Marcus job cuts UNITED STATES: Upmarket American retailer Neiman Marcus has confirmed it will cut an additional 450 jobs and that existing salaried employees will also be forced to take a pay cut. The company's vice president of corporate communications admitted the layoffs were company-wide "across all divisions and across all levels". The news follows the forced redundancies of 375 staff at the company in January. Earlier this month, the retailer said it would report a loss in the just-completed quarter. The Neiman Marcus Group operates 40 Neiman Marcus stores across the United States and two Bergdorf Goodman retail sites in New York's Manhattan district.
New H&M head SWEDEN: Karl-Johan Persson has been appointed the new CEO of Swedish-headquartered retail giant Hennes & Mauritz (H&M). The appointment, effective from July 1, will see Persson replace Rolf Eriksen who is retiring. Persson has had an operational role within H&M since 2005 and is currently the group's head of expansion, business development and Brand and new business. He has been a board member of H&M's subsidiaries in Denmark, Germany, the US and the UK since 2000 and in 2006 was elected board member of H&M's parent company. On a local front, H&M head of design Margareta van den Bosch is set to head down under as a panellist at the L'Oreal Melbourne Fashion Festival later this month.
More Topshop UNITED STATES: Retailing mogul Philip Green has given the green light to allow Topshop to open up to 15 new flagships stores across North America. Green, who announced the news during a press conference in New York, said while he had yet to sign any stores the rollout would not be "overly aggressive". Possible sites include Miami, Los Angels, Boston, Las Vegas and potentially another store in New York where Topshop's impending store opening will see 50 new lines delivered every seven to 10 days. The retail giant would continue to operate a dedicated online store for the American market. Topshop sites in Canada were also on the radar.
Replay heads to Asia ITALY: Licensing groups SK Networks and Fashion Box have announced aggressive plans to market Italian denim brand Replay across Korean Markets. According to an online report by UK apparel site Fashion United, SK Networks will have exclusive rights to operate Replay points of sale in South Korea for four years commencing with the norther hemisphere's spring/summer 2009 season. The plan includes the opening of seven corners within main department stores and a flagship store over the next 12 months.
