Your Latest In Retail Design News
Once again we bring you the latest in retail design news to keep you up to speed with the retail and services industry.
Here is what’s happening in Ireland, England and the wider world right now.
Barneys New York Files For Bankruptcy
It has been announced that luxury department store Barneys New York is filing for bankruptcy protection from creditors. The move comes due to rising rent prices and fewer customers visiting the retailers’ stores.
Filing for Chapter 11 bankruptcy, Barney’s is set to close 15 out of its 22 stores. Barneys said its stores on Madison Avenue and downtown New York City will remain open, as well as flagship locations in Beverly Hills, San Francisco and Boston.
“Like many in our industry, Barneys New York’s financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand,” Chief Executive Daniella Vitale said in a statement.
Eason To Boost Annual Profits By €5m With New Acquisitions
Eason will boost its annual profits by €5m after agreeing to acquire six franchised stores, reports the Irish Times.
While it is unclear how much Eason payed out, the Irish company firmly believes the move will be very valuable to its further expansion.
Currently operated by existing franchisees, the six stores are located in Kilkenny, Clonmel, Balbriggan, Maynooth, Arklow and Ennis.
The transaction is expected to close by the end of September.
Nestle Introduces New Plant-Based Lattes
Nestle has launched three new plant-based coffee lattes in the UK and Ireland. The drinks, certified by the Vegan Society, fall under the Nescafe Gold brand.
The new premium non-dairy lattes are made with almond, oat and coconut perfectly blended with 100% Arabica coffee beans to create smooth and creamy coffees.
David Rennie, Head of Beverages Strategic Business Unit, Nestlé SA, said:
“We are delighted to bring new coffee experiences with the launch of our premium Nescafé Gold non-dairy lattes.
“Our iconic Nescafé brand continues to lead and embrace new coffee trends with this innovation.”
Natuzzi Launches New Augmented Store
Italian furniture brand Natuzzi has launched its very own virtual reality shopping experience with an augmented store.
The new retail space includes holographic displays and advanced 3D interior design configurators.
The brand’s augmented store is part of its New York City Madison Avenue showroom. It enables customers to enter a digitally rendered version of their own home in virtual reality and decorate it with Natuzzi pieces.
With Microsoft HoloLens 2 the consumer can see the holograms of the products as miniatures, placed on a horizontal surface, and walk around them to appreciate every detail.