International Strategy
Columbia Sportswear said it would launch new e-commerce sites for its primary Columbia brand and the fast-growing Sorel boot brand to allow customers in Canada, the United Kingdom, France, Italy, the Netherlands, Belgium, Austria and Spain to buy products online.
Gap said it's establishing an international division based in London to ramp up overseas growth. The company will open its first Old Navy stores abroad โ in Japan โ by 2012 and said it's set a goal for international and online sales to make up 30 percent of its total by 2013, up from 22 percent in 2010 and 14 percent in 2006.
Target is projecting sales from its upcoming Canadian stores to total more than $6 billion by 2017. The company expects to have more than 200 stores in Canada within the next five years to 10 years, with the stores generating about $6.27 billion in U.S. dollars.
eBay announced that it's agreed to acquire additional shares in GittiGidiyor, the leading online marketplace in Turkey. The deal follows eBayโs acquisition of a minority stake in the company in 2007. Upon closing of the transaction, eBay will own approximately 93 percent of the outstanding shares of GittiGidiyor.
Target plans to open more than 200 stores in Canada, with the first stores opening in 2013. With its first foray into the Canadian market, the big-box giant hopes to generate $6 billion in annual sales in Canada during the next six years.
Gap has opened an online store on China's biggest e-commerce platform Taobao, in an effort to lure savvy Chinese shoppers outside wealthy cities. Gap opened its store on Taobao Mall, alongside the likes of Adidas, Levi Strauss & Co and Japan's Uniqlo.
Wal-Mart announced that it will reopen 12 of its Seiyu stores in Japan, which were affected by the earthquake. A company spokesman added that the retailer is hoping to open the remaining 12 impacted stores as soon as possible.
Lingerie company Frederickโs of Hollywood is expanding internationally with the signing of a licensing agreement covering six countries in the Middle East. The deal with Abu Dhabi-based Emirates Associated Business Group will lead to the opening of at least 10 Frederickโs of Hollywood stores in the next three years.
The aftershocks of the Japanese earthquake reached the shores of the U.S. as investors and financial analysts started assessing the damage that Japan's devastating earthquake and tsunami would have on U.S. businesses.
Aeropostale announced that it's signed a licensing agreement with Montreal PTE Ltd., a joint venture between Apparel Group LLC and Jay Gee Melwani Group, to open approximately 25 stores across Singapore, Malaysia and Indonesia over the next five years.