Global Vibes
Gap no more
UNITED KINGDOM: High street retail chain Gap will shortly join more than 800 brands including Mango, Gant and Hackett in flogging its wares via fashion website Asos. The launch will mark Gap's online debut in the UK with its womenswear, menswear, childrenswear and babywear collections being sold via the site. Aimed primarily at fashion forward 16 to 34-year-olds, asos.com attracts more than 5.3 million unique visitors a month and has 2.3 million registered users.
Few Indian orders
INDIA: Indian apparel exporters have virtually run out of orders from their US and European clients as the demand for their clothing has dried up in the recession-hit Western markets, according to the country's Chairman of Apparel Export Promotion Council. The US and Europe collectively account for 70 per cent of India's garment exports, which are close to $US10 billion ($A13.5 billion). The council said Indian exporters would now target new apparel destinations such as Australia, Japan, South Africa and Brazil, which had remained untapped.
Seven sink a day
UNITED STATES: Seven US retailers went bust every day in the first quarter of 2009, according to figures from accountancy firm PriceWaterhouseCoopers (PWC). Between January and March this year 705 companies in the retail sector entered insolvency, compared to 569 at the end of last year. The figures signal a 25 per cent increase on the last quarter of 2008. PWC said while some retailers and their stores had disappeared from high street, there were opportunities for multiple retailers and smaller, independent stores to grow market share.
O'Neill's new CEO
UNITED STATES: Former Adidas marketer, and Swedish national, Jan Valdmaa has been appointed chief executive officer of surf, snow and lifestyle group O'Neill. Valdmaa replaces interim CEO Tom Heidman. The 54-year-old left Adidas in 2000 where he join Helly Hansen as CEO. Having overseen the successful sale of the Nordic outdoor sports brand in 2006, Valdmaa was appointed non-executive chairman of Integrix Sports Group and six months later was named CEO. Valdmaa, who continues in his role of Chairman of the Board of Integrix Sports Group, will take up the position on June 1.