In 2017, Italian eyewear behemoth Luxottica announced a merger with Essilor, a French lenses manufacturer. The $49 billion merger furthered Luxottica's entrance into all facets of eyewear, from design, to manufacturing, to retail. Though the merger was approved by several major international trade commissions, including the U.S.' FTC, some antitrust experts question if the move will help consumers, or entrench the industry standard in which glasses cost hundreds of dollars.
Since its founding, Luxottica has transformed glasses from a medical device to a fashion statement. Some now question if it has too much power.
Some of the top-selling car brands in the United States are Japanese — Toyota, Honda, and Nissan especially. But the reverse isn't true – General Motors, Ford, and Fiat Chrysler combined make up only 0.3% of the Japanese auto market. With strict regulations, strong local manufacturing, and a particularly Japanese way of retailing cars, the country will likely continue to be a difficult place for American automakers.
A deadly fungus is spreading from Southeast Asia and wiping out whole plantations of America's favorite fruit: the banana. The tropical fruit's popularity is thanks to a few pioneering entrepreneurs, who founded Chiquita under a different name over a century ago. Now, the business they built is at risk of decimation if the fungus reaches Latin America, the source of 97% of the U.S.' banana imports.
Gap Inc. is spinning off its most successful brand, Old Navy. Gap and Banana Republic will join much smaller brands Intermix, Athleta, and Hill City to form an as-yet unnamed company.
Gap Inc. is spinning off its most successful brand, Old Navy. The discount retailer posts positive year-over-year sales growth and accounts for over 40% of Gap Inc.'s annual sales. Meanwhile, Gap and the upscale Banana Republic brand have battled falling sales for several years in a row. Now, Gap and Banana Republic will join much smaller brands Intermix, Athleta, Hill City, and Janie & Jack to form an as-yet unnamed company, and Old Navy will stand alone.
Jim McCann grew 1-800-Flowers.com from one flower shop in 1976 to $1.2 billion in annual revenue in 2018. Watch this video to see how McCann used technology and product diversity to grow his company into the Amazon of flowers.
In 1976, Jim McCann bought a single flower shop in New York City. 42 years later, his company, 1-800-Flowers, made $1.2 billion in annual revenue. Watch this video to see how McCann grew his company from one flower shop to the Amazon of flowers.
When Victoria's Secret entered the market in the 1980s, it revolutionized the retail of women's undergarments. 30 years later, the brand is falling behind as consumer priorities shift. Watch this video to find out how.