The Market Report: 1.13.2012

January 13, 2012 BY CAPSULESNEWS

"High End Brands Are Missing the Boat on Mobile, Study Finds"

"Prestige retailers are largely failing to keep pace with developments and consumer demand for mobile shopping capabilities, a new study from New York research firm L2 suggests. In a ranking of 100 well-recognized fashion, beauty, hospitality, watch and jewelry, and retail brands, nearly half were deemed feeble in their efforts. Only two-thirds of indexed brands have mobile-optimized sites, and yet a full third of those dont allow consumers to shop from those sites, L2 noted. Many also fail to provide the full range of content available on their desktop sites, including product search and user ratings, to mobile audiences..." (via: Mashable)


"Target to Launch In-Store 'Shops'"

You could call it a mainstream Street of Shops. The Shops at Target sounds like the name of an upscale open air shopping center and is reminiscent of Henri Bendels famous boutiques-within-a-store concept that was popular at the retailers former location on West 57th Street in Manhattan. The Minneapolis-based retailer on Thursday unveiled its new street of shops design partnership platform to the media. The ongoing program attempts to re-create the ambiance of the key stores from across the country that were discovered by members of Targets in-house design team..." (via: WWD)

"France and Italy: 'Ready-to-War?'"

"Against all the odds of the flailing euro, mountains of sovereign and personal debt and a general economic uneasiness, mens wear is booming. As Ermenegildo Zegna opens the Milan winter 2012 mens season on Saturday, the company has recorded a 14 percent increase in sales in 2011, pushing total revenues to 1.1 billion, or $1.4 billion. 'We are coming out from a jolly good 2011,' says Gildo Zegna, the brands chief executive. Beside the good news in Asia, we finally have double digit increase in the United States and Europe, too, is doing fine because of a lot of visitors, from Russia, from Brazil and incredibly strong from China... (via: NYT)

"Nike Factory to Pay $1m to Indonesian Workers for Overtime"

"A Nike factory has agreed to pay $1m in unpaid overtime to Indonesian workers in a move that could force other suppliers of multinational companies to follow suit. Nearly 4,500 employees at one of the sportswear group's suppliers, the PT Nikomas shoe plant in Banten province, will be compensated for close to 600,000 hours of overtime clocked up over the past two years. The out-of-court settlement, reached after nearly a year of negotiations, set a precedent for other workers, said Bambang Wirahyoso, national chairman of the trade union Serikat Pekerja National..." (via: Guardian)