Men's Wearhouse has launched a mobile commerce site complete with a Build-A-Tux feature that lets shoppers customize their formal looks using a selection of 96 vest and bow tie colors and share the looks with friends via social media.
Uniqlo parent Fast Retailing's CEO Tadashi Yanai aims to become the world's biggest apparel retailer by 2020, a title currently held by Spain's Inditex. Reportedly, past efforts to leap forward in the U.S. with acquisitions of companies including Liz Claiborne and Barneys New York have fallen through, but some analysts say the Japanese player may be able to reach its goal organically.
J.C. Penney has reportedly retained bankers from the Blackstone Group to advise the retailer on shoring up its cash position and to help it raise $1 billion. "In recent months, the Company has hired outside advisors to provide us with their expertise about how to best position the Company from a financial standpoint during the transformation," company spokeswoman Kristin Hays said.
The worldwide over-the-top video market posted revenue of more than $8 billion last year and is on pace to be worth more than $20 billion a year by 2015, according to ABI Research. "The shift to digital and OTT distribution is accelerating, particularly as content providers increasingly warm up to these channels," ABI's Michael Inouye said.
Monster will soon begin selling the Sound Machine line of headphones it developed with Grammy-winning musician and producer Emilio Estefan. Priced at $150 for the on-ear version and $250 for the over-ear model, the headphones go on sale Sunday at Target stores in the U.S. and at Target.com. The retailer has exclusive rights for the first 60 days.