Fran Marshall -- Furniture Today, December 14, 2009
Kohl's, Target Renew Iconix Licenses
Iconix Brand Group has signed agreements that extend direct-to-retail license agreements for its Candie's at Kohl's and Fieldcrest at Target.
Kohl's, which has held the Candie's license exclusively since 2005, will continue to carry the brand through 2016 under the new deal.
Target's Fieldcrest license has been extended to 2015. The retailer has developed and distributed the home textiles brand since 2005.
Iconix also renewed its agreement for Waverly Home Classics branded paint with Lowe's.
The company said terms on all three agreements remain "substantially" the same as the original licensing arrangements.
Iconix has direct-to-retail deals with 17 retailers in the United States and abroad. They are expected to generate about $600 million in contractually guaranteed minimum royalties.
JCPenney Promotes Three
JCPenney has called off its search for a president and instead promoted three executives and expanded their duties to create a new senior merchandising group.
Jeffrey Allison, Steven Lawrence and Elizabeth Sweney will each now hold the title executive vp and senior general merchandise manager.
Allison will lead home, custom decorating and now fine jewelry. Lawrence will now oversee children's in addition to the men's division. Sweney will head up shoes and women's accessories in addition to Women's apparel.
Hudson's Bay Nameplates Contract Li & Fung for Sourcing
Hong Kong and Toronto — Global consumer goods exporter Li & Fung will oversee global sourcing for four of Hudson Bay's retail chains: the Bay, Zellers, Home Outfitters and Lord & Taylor.
The deal consolidates Hudson Bay's sourcing activities into one North American services group and will accelerate its strategy to improve operating effectiveness.
The company's chain of value-priced Fields stores is not covered by the agreement.
Meijer among New NRF members
The National Retail Federation has signed up more than 100 companies and organizations as members.
One of the most recent additions is Meijer, a Michigan-based regional superstore.
Other major retailers who have joined NRF in recent months include: Big 5 Sporting Goods, Guitar Center, and women's specialty retailer J. Jill, a multichannel retailer of women's apparel, accessories and footwear.
"While our 190 stores are located solely within the Midwest, we understand that navigating the national and global retail landscape takes knowledge and innovation, the kinds of skills offered by the professionals at the National Retail Federation," said Stacie Behler, vp, corporate communications and public affairs, Meijer. "We are excited to join the NRF team."
Furniture Today's Ray Allegrezza Speaks with Stephen Bogart about Fine Furniture's New Bogart Line