Macy's recent announcement that it is closing more than 40 stores as part of a three-year plan to shutter approximately 125 stores wasn't unexpected but was still a huge blow to the retail industry. The 163-year-old department store chain has joined a long list of iconic retailers that are drastically downsizing with several filing for bankruptcy protection. They include Neiman Marcus, JCPenney, Sears and Lord & Taylor, which liquidated all its stores and is in the process of moving to a pure eCommerce operation. Retail Reformation These …
Will LVMH Recreate an Identity for Tiffany?
At some point in the last decade, the great American luxury retailer Tiffany & Co. lost its identity. Its many attempts to redefine its brand to attract millennials have produced mixed results. Will the $15.8 billion acquisition by French holdings company LVMH help in creating a cohesive identity for the iconic luxury retailer in a modern world? How Tiffany Lost Its Way During the past five years, Tiffany could be better defined for its management shakeups than for creating an identity with broad appeal. Here's one dramatic casualty: …