Avon Pulls Out of the Caribbean
COSMETIC giant Avon is pulling its contract services from a number of Caribbean islands including Jamaica.
The US-based cosmetic company's decision to cease operations in Jamaica will affect the livelihood of some 6000 representatives.
Avon, which has been operating in Jamaica over the past 12 years, has been experiencing
declines in its revenue. In 2004, Avon's North America sales reached US$2.6 billion; however, by 2013 revenues had fallen to US$1.46 billion despite efforts to produce lower-priced products.
The company continues to face increased competition from a number of cosmetic companies and is also experiencing negative returns from volatile exchange rates, according to reports. Last year, Avon reportedly slashed 600 jobs in an attempt to reduce its overhead costs.
Senior vice president and president of Avon North America, Pablo Muñoz, stated in an e-mail to Avon representatives on January 29, entitled 'Important Avon information' that after careful consideration and analysis, Avon Products, Inc. regrets to inform the representatives that it has decided to cease operations in the Islands served by the US mainland, including their territory.
"As a consequence, Avon is terminating all contracts in your territory, including the company's independent sales representatives contract with you," the email continued. "At the close of Campaign 5, in keeping with your applicable (representative processing schedule) RPS date, Avon will no longer accept any orders for Avon products placed in your territory and you may no longer promote the sale of any Avon products."
Effective Monday, Avon representatives will no longer be able to place orders to the company. Efforts made to ascertain why Avon Products, Inc is pulling its service from the Caribbean proved futile, as the Jamaica Observer was informed that the managers were engaged in a meeting.
Award-winning Avon representative Claudette Walters, stated that Avon's decision to stop
its operations in Jamaica already has her contemplating her next move.
"I'm still wondering if this is really happening because this is my only source of income. It took me 11 years to build this business and then someone calls you on a two-minute conference call saying that they will be ceasing their operation in your territory -- it's really not news anyone wants to hear," Walters told the Business Observer.
Walters was featured in the Jamaica Observer a few years ago after buying a five-bedroom house from income made by selling Avon products. Currently, Walters oversees more than 800 representatives who she said are also uneasy about the matter.
"When we went in the question and answer session on Friday we thought they would have provided us with some more information, but when we asked the questions they tried to answer them from the letter that was emailed and that was not enough," she stated.
"All they're saying is that they are closing so that they can focus on the US market," Walters added.
Avon is one of the world's largest direct sellers of beauty supplies and supports 6.4 million representatives in over 100 countries. The 128-year-old beauty company, known for products such as Skin-So-Soft and ANEW skincare, allows representatives the freedom to market their products directly to customers, ultimately giving them the flexibility to determine their working hours.
"It is devastating because we have a lot of representatives who are in a steady job but still look towards this because the job may not be able to cover all their expenses," Walters said
COSMETIC giant Avon is pulling its contract services from a number of Caribbean islands including Jamaica.
The US-based cosmetic company's decision to cease operations in Jamaica will affect the livelihood of some 6000 representatives.
Avon, which has been operating in Jamaica over the past 12 years, has been experiencing
declines in its revenue. In 2004, Avon's North America sales reached US$2.6 billion; however, by 2013 revenues had fallen to US$1.46 billion despite efforts to produce lower-priced products.
The company continues to face increased competition from a number of cosmetic companies and is also experiencing negative returns from volatile exchange rates, according to reports. Last year, Avon reportedly slashed 600 jobs in an attempt to reduce its overhead costs.
Senior vice president and president of Avon North America, Pablo Muñoz, stated in an e-mail to Avon representatives on January 29, entitled 'Important Avon information' that after careful consideration and analysis, Avon Products, Inc. regrets to inform the representatives that it has decided to cease operations in the Islands served by the US mainland, including their territory.
"As a consequence, Avon is terminating all contracts in your territory, including the company's independent sales representatives contract with you," the email continued. "At the close of Campaign 5, in keeping with your applicable (representative processing schedule) RPS date, Avon will no longer accept any orders for Avon products placed in your territory and you may no longer promote the sale of any Avon products."
Effective Monday, Avon representatives will no longer be able to place orders to the company. Efforts made to ascertain why Avon Products, Inc is pulling its service from the Caribbean proved futile, as the Jamaica Observer was informed that the managers were engaged in a meeting.
Award-winning Avon representative Claudette Walters, stated that Avon's decision to stop
its operations in Jamaica already has her contemplating her next move.
"I'm still wondering if this is really happening because this is my only source of income. It took me 11 years to build this business and then someone calls you on a two-minute conference call saying that they will be ceasing their operation in your territory -- it's really not news anyone wants to hear," Walters told the Business Observer.
Walters was featured in the Jamaica Observer a few years ago after buying a five-bedroom house from income made by selling Avon products. Currently, Walters oversees more than 800 representatives who she said are also uneasy about the matter.
"When we went in the question and answer session on Friday we thought they would have provided us with some more information, but when we asked the questions they tried to answer them from the letter that was emailed and that was not enough," she stated.
"All they're saying is that they are closing so that they can focus on the US market," Walters added.
Avon is one of the world's largest direct sellers of beauty supplies and supports 6.4 million representatives in over 100 countries. The 128-year-old beauty company, known for products such as Skin-So-Soft and ANEW skincare, allows representatives the freedom to market their products directly to customers, ultimately giving them the flexibility to determine their working hours.
"It is devastating because we have a lot of representatives who are in a steady job but still look towards this because the job may not be able to cover all their expenses," Walters said
Fashion Houses Ignore Black Shoppers
Survey finds that black women are more willing than ever to pay the price for high-end fashion
Written by Ade Onibada
22/02/2015 12:00 PM
SUPPORT: Sáfójò founder Sarah Teibo with her upmarket African-inspired umbrellas. She believes BME consumers should support black-owned companies
companies.
A NEW survey has revealed that three quarters of African Caribbean women in the UK are happy to go to lengths to satisfy their taste for expensive designer labels.
The study carried out by Sáfójò a London-based company that produces high end African themed umbrellas, found that 48 per cent of the women interviewed spend £200-£500 per month on designer wear.
Topping Teibo’s survey as fashion brand favourites of African and Caribbean woman were fashion powerhouses Louis Vuitton and Chanel.
Sáfójò founder Sarah Teibo told The Voice she was not surprised at the survey’s findings.
REASONS
“I genuinely think one of the reasons we tend to do that is because when you get to a certain a level or a change of job some people go the lengths of changing their whole wardrobe to compliment the lifestyle change,” she said.
Teibo added that the reason she decided to conduct the survey was to debunk the commonly held belief among luxury goods retailers that black people don’t spend money on expensive items.
The survey’s findings come at the same time as the iconic New York Fashion week draws to an end. Black fashion commentators have pointed out a continued lack of diversity at the event; out of 260 fashion shows only three scheduled were by black designers.
Also recent figures from the Institute of Practitioners in Advertising (IPA) found that people from black and minority ethnic communities account for a twelfth of the spending in the fashion industry yet they represent the 14 per cent of consumers that large fashion companies regularly fail to target.
It also found that the spending power of black and minority ethnic (BME) consumers stands at £300 billion. Yet despite the failure to recognise this spending power, recent years have seen the fashion industry tap into African cultural influences both on the runway and in advertising.
TEXTILES
African textiles such as kente and batik have featured in top fashion shows, high fashion magazines and boutiques, creating a platform for the continent’s designers to share their talent both locally and internationally.
Referring to this trend Teibo said: “The fashion industry is picking up the signs that this is something that can sell. I think it was only a question of time. Given our inspired designs and our inspired concepts, they know that if they slap their brand names on it, we will go for it. African-inspired fashion is coming to the forefront but we should be the ones creating it and we should be the ones putting it out there.”
She added that the industry’s neglect of BME women consumers highlights the need to support fashion products created by black-owned companies.
She said: “I think people are really starting to appreciate the authenticity that goes into black designs. They stand out and the make the person wearing it stand out as well. Support from within our own community is pertinent to our growth and consequently it will help create a more visible representation of our culture in fashion. A lot of the time, the excellent quality we desire can be found from these brands. We have a responsibility to take ownership and push out the beauty of Africa to the rest of the world through fashion.”
Posted on: 22/02/2015 12:00 PM
Global Internet Retailing To Grow By 12 Percent
KUALA LUMPUR, Feb 23 (Bernama) -- Internet retailing is one of the most valuable and fastest expanding global channel with a compound annual growth rate (CAGR) of 12 percent forecasted from 2014-2019.
During the same period, Latin American Internet retailing is expected to see a CAGR growth of 10.8 percent and the United States 9.6 percent respectively.
The result was featured in Euromonitor International's new e-book for the Top Retailing Trends in North and South America on Feb 21, 2015, said Euromonitor in a statement issued today in Chicago, the United States.
To keep up with fast-growing competition, in-store retailers have added mobile apps for use in store to enhance consumer shopping experience and support higher taxes on Internet purchases.
Apart from the virtual stores, conventional convenience stores are also growing in popularity with different levels of growth in North and South American markets.
For example Super 24, the only convenience store chain in Guatemala, has tripled its stores since 2010 as many consumers are shopping at convenience stores in place of small independent grocers. Argentine cities are also turning to easier options to shop on the go and Colombians prefer the appealing prices and proximity of convenience stores.
"In the coming years, both North and South American regions will remain a lucrative but challenging retail environment. Sales will continue to grow due to innovation and the opportunity to utilize both online and in-store shopping experiences.
"However, companies need to be flexible on the needs of consumers, while differentiating themselves from their competitors to be successful in the industry," explained Sean Kreidler, Latin America Research Manager in the same statement.
To download your complimentary copy of the e-book, please visit: http://go.euromonitor.com/Top-Retailing-Trends-in-the-Americas-2015.html
--BERNAMA
Debbie Farah Speaking at Nexus Caribbean Youth Summit in Montego Bay, Jamaica
M2 Communications 02/02/2015 12:34 PM ET
Bajalia International Group has been invited to participate in the Nexus Caribbean Global Youth Summit Debbie Farah, CEO of Bajalia, will be speaking on topics focusing on women's economic development and social enterprises i n the Caribbean. Bajalia is a Winter Park, Florida based ethical fashion company that leads the world in international fair trade and scaling artisan enterprises while defining ethical standards within their supply chain. Her passion is incubating groups of artisans who develop and manufacture the handcrafted international jewelry and fashion accessories that Bajalia markets and distributes in the US, Canada and Europe.
The Nexus Youth Summit is a global movement of 2000 + young people from over 70 countries working to increase and improve philanthropy and impact investing by bridging communities of wealth and social entrepreneurship. Founded in 2011, Nexus puts the hope and promise of young people on the world stage by bringing leaders together at Nexus Summits around the world for dialogue, Education and collaborative problem-solving.This is the first time these doers and thinkers are launching this conference in the Caribbean Islands to build bridges between the various other Caribbean nations and countries.Debbie is excited to be a part of The Nexus Caribbean Youth Summit February 5-7, 2015. She explained, "The forum will highlight a diverse group of women and companies who are leaders in the Caribbean. Focusing on cultural inclusion, social innovation, global networking, and the changing dialogue of philanthropy, impact investing and social entrepreneurship."Farah's main topic will be combining her passions for entrepreneurship and fashion to benefit local artisans through a social enterprise business model.
Debbie remarked "Alleviating poverty and empowering women through job creation, while taking their work to scale on a global level is our goal." Farah is a strong supporter of developing lasting and successful mentoring and scaling of female entrepreneurial initiatives around the world.Farah is excited to be leading a conversation focusing on the new launch of Kenneth Cole and REBUILD Globally collaboration of foot ware,made from recycled tires for his Look Good for Good initiative. Julie Colombino, founder of REBUILD Globally and Amanda Coles, daughter of Kenneth Cole will be joining in the conversation.
Debbie Farah is well known to many through her popular segments representing the extensive Bajalia Jewelry and fashion accessories on HSN. Her next appearance on HSN will be February 26, 2015. Debbie will spend several hours not only talking about the amazing jewelry from female artisans around the world, but relating her ever inspiring stories from her visits to their workshops to review and act as an advisor to their emerging world business."We are at a historic moment in time, where we can actually end extreme poverty in our lifetime." Farah explained "We can do this only by investing in the health and well-being of girls and women in the developing world."
Bahari signs distribution deal with multi-million dollar online retailer
By Maven Group
Dec 10, 2014 - 12:55:16 PM
Freeport, Grand Bahama Island - New kid on the block on the Bahamian fashion scene, BAHARI, is already making waves on the international scene. Designers of the now iconic Independence t-shirts that hit the country by storm back in July, recently unveiled their new Fall collection featuring shirts, dresses and rompers with Bahamian emblems and symbols in stunningly regal colours. This full ensemble of limited edition men’s and ladies wear has been well-received by local consumers and has also caught the attention of the multi-million dollar online retailer, Karmaloop©.Specializing in streetwear e-commerce, Karmaloop is a multi-platform web retailer, community style and media company. Their family of sites include online retailer, Karmaloop, internet television station Karmaloop TV, ladies-only site MissKL, flash sale site PLNDR, online skateboard retailer Brick Harbor, and independent marketplace Kazbah.As a frequent shopper himself on Karmaloop.com, Bahari’s CEO and Creative Director-Men’s, Morgan Fernander set his sights on securing a deal with the renowned online retailer whose site receives 4.5 million unique visitors a month and generates revenue in excess of $200 million dollars annually.“Our goal was to create a collection that reflected Bahamian life and culture but retained an international appeal. We knew that in order to continue to grow the BAHARI brand, international sales would be vital,” Fernander stated. As hundreds of clothing lines all over the world submit proposals for product placement to Karmaloop, we knew that we would have to make our submission stand out amongst the scores of other international brands.To achieve this feat, the twenty-five year old entrepreneur, who is also a formidable marketing executive on Grand Bahama, developed a world-class marketing kit for submission. In as little as three days he received a response. “Not only did they respond immediately, compared to their standard 4 weeks response time, but they also attached a contract and approval,” he explained.When asked what he thinks made BAHARI stand out amongst other submissions, Fernander added, “I think it was our branding that helped us to stand out. We created a unique product and developed it into an appealing brand.”Always a dream maker, Fernander is optimistic about the brand’s future. “We want to create an international brand that showcases Bahamian life and culture on fashionable and current apparel that can be appreciated worldwide. We want BAHARI to become synonymous with The Bahamas on a global stage and continue to be ambassadors for our country, create opportunities for Bahamians and inspire others to pursue their goals,” he said.
© Copyright 2014 by thebahamasweekly.com
Russia ranks first among emerging markets
"Russia ranks first among emerging markets," eBay head John Donahoe said during a visit to the country in September.
An attractive target, Russia’s growing middle class is set to expand to 82 percent of the population by 2015, according to state statistic service Rosstat.
Already, Russia is home to Europe’s largest internet market, which is in part fueled by the success of Yandex, the home-grown Russian search engine that is even more popular than Google or Yahoo. Though many in Russian cities are plugged in electronically, not everyone is on the internet, which offers a lot of potential growth.
Morgan Stanley forecast retail sales in Russia will take off even further, and by 2015, e-commerce will triple to $36 billion, and make up 5 percent of total retail sales. Currently, online shopping only accounts for 2 percent of retail sales.
Russians love to shop, especially for foreign goods, which was causing Moscow’s airports to become overrun with delivery packages. DHL and FedEx have both suspended foreign parcels to individuals due to stricter customs procedures, which have significantly slowed deliveries. Efficiency is also difficult to ensure to clients in remote cities, as Russia's territory stretches over nine time zones.
In an effort to keep more business domestic, the Economic Development Ministry and government have decreased the tax-free threshold on purchases from foreign online shops to $150 from $1,000. The idea was floated around last year by President Vladimir Putin.
PM: Fashion earns $25M a yearBy Miranda La Rose Tuesday, January 28 2014
The local fashion industry employs more than 11,000 persons either directly or indirectly and generates more than $25 million annually, according to Prime Minister Kamla Persad-Bissessar.
Officially opening the signature “Vogue Italia Gala Event Under the Trees” at which ten local designers put their lines of clothing on stage at Hotel Normandie, St Ann’s on Sunday evening, Persad-Bissessar said, “Port-of-Spain is being positioned as a fashion district and the fashion capital of the Caribbean.”
She described the locations between Frederick and Charlotte streets as the only cloth district in the Caribbean and listed the names of local designers synonymous with the highest quality of fashion, including more recently Anya Ayoung Chee, winner of Season 9 of the Project Runway Lifetime TV programme.
The event, organised by the Trinidad and Tobago Creative Industries (CreativeTT) and held under the theme “Masquerade,” was done in partnership with the Italian version of the internationally renowned fashion magazine Vogue.
CreativeTT’s partnership with Vogue Italia, Persad-Bissessar said, makes the point that the fashion sector still has tremendous potential to be explored.
TT’s fashion talent being featured in the Spring/Summer issue of Vogue Italia in May 2014 will present an excellent platform for that potential, she said.
Among those presenting their line of clothing, which ranged from fashionable tantalising bikinis, light and colourful casual wear to flowing evening gowns were Adrian Forester, Christian Boucaud, Claudia Pegus, CLD, Health Jones, James Hackett of the University of Trinidad and Tobago, J Madison, Meiling, Noor, Peter Elias, and Rhion Romany.
The event, which started at 8.15 pm, an hour and a fifteen minutes late due to the late arrival of Persad-Bissessar, flowed without a hitch once it got started.
Earlier, Persad-Bissessar attended the start of the Week of Prayer at the National Academy for the Performing Arts. No one appeared to be fazed by the late start as cocktails and drinks were in abundance.
Scintillating pieces from the mas bands D’Crewe, Fantasy, Island People, K2K Alliance, Passion Carnival, Tribe and Yuma were also captivating. The event, Persad-Bissessar said, was one where talent, Government policy, and a tradition of creative and innovative genius converge.
She noted that the industry was tapping into the creative wealth of people as a means of diversifying the economy away from oil and gas. While Creative TT was at the forefront of the drive to stimulate and facilitate the business and export activities to generate wealth, she said UTT is offering a first degree in
Colombiatex 2014 surpasses all expectations
2013 /PRNewswire/ -- Economic growth, broader Internet penetration and the proliferation of inexpensive mobile devices that enable more consumers to shop online are all driving strong e-commerce growth in Latin America in general and Brazil in particular. The country home to the world's sixth-largest economy reported total retail sales last year of$336 billion, with total B2C e-commerce sales claiming a 3.6% share of those sales. Of the 400 top Latin American online retailers ranked by annual sales, 248 are based in Brazil and their collective web sales increased 19.9% to total $9.6 billion in 2012. Seven of the top 10 fastest-growing e-retailers are Brazilian: Web-only sporting goods merchant Kanui.com.br, whose web sales in 2012 grew nearly 9,000% to $120 million, is the fastest-growing Latin American e-retailer according to Internet Retailer's just-released 2013 Latin America 400, the only industry resource that comprehensively ranks and analyzes the 400 leading web merchants in the Americas outside of the U.S.—the fastest-growing global e-commerce market behind Asia and ahead of the U.S. and Europe.
Colombiatex (Photo: Cámara Lúcida)
Heading into the 26th Annual Colombiatex de las Americas, Latin America’s biggest trade fair for the fashion production industry, organizers expected to generate an impressive $150 million in potential business deals, over the course of the three-day event in Medellin. When the fair came to a close on Thursday, however, it had brought together a reported $266.9 million in business dealings, a 75% increase from the previous year.
“I think it [was] a very positive fair as much in quality as in quantity,” Carlos Botero, Executive President of Inexmoda, the group behind the event, told Colombia Reports.
“Everything worked extremely well to enrich the doing-business spirit in this 26th year of Colombiatex.
From the fair’s educational productions — such as the Textiles Forum, Denim Review, Denim Day, the Pavilion of Knowledge – to the new Fashion.Mob initiative, which aimed to combine gastronomy, fashion and music into a cross-media experience, everything went “supremely well,” according to Botero.
MORE: Colombiatex trade fair ‘transcends limits’ of fashion industryAs a result, business was very much booming at the region’s largest “fashion system” platform, where all the fashion industry’s various aspects come together to dialogue, from raw materials manufacturers, to designers, to machinery and equipment companies.
“In total, we welcomed [...] more than 26,000 visitors, of which 1,760 were international buyers from 41 difference countries,” said Botero, pointing to a 9% rise in visitors compared to the previous year, as well as the increasingly international appeal of the Colombian trade show.
“The Colombiatex fair has been steadily establishing itself as the business center of Latin America,” Botero affirms. “[For example], we don’t only get Ecuadorians coming to do business with Colombians, they also come to make deals with Peruvians, Brazilians, Americans.”
“This confirms precisely that this [...] is the fair that kick-starts the textile year in the continent, and I believe that it’s of great value that this opportunity take place here in Colombia.”
Botero attributed almost half of the total business generated during the event to the international trade agreement passed between Colombia, Peru, Mexico and Chile.
“More or less US$120 million came from the Alianza del Pacifico,” he said.
Residents of Pacific Alliance countries reportedly comprised 87% of the foreign visitors to Colombiatex 2014. Ecuador and the United States were also well-represented.
Ultimately, Botero believes the success of the 2014 fair was a result of a combinations of factors.
“Firstly, the last trimester of 2013 was positive for Colombia’s economy. This meant that for people business was good, and therefore it instilled a certain optimism at the start of this year.”
Botero also mentioned the speeches given by Colombian government officials at the inauguration of the fair as a source of motivation, and that the healing global – and specifically US — economy played a significant role in spurring business.
“On top of this, the quality of exhibitors at a fair such as Colombiatex, the level of organization and cooperation by the city of Medellin [...] all this generates a new dynamic whose impact can be seen in the business deals, which is what we witnessed in this year’s Colombiatex,” said Botero.
The more-than-satisfactory end result of Colombiatex 2014 has organizers already looking ahead to next year’s fair, which will bring back the Pavilion of Knowledge and other popular features and is scheduled to take place between January 27 and 29, 2015.
“I think we took some risks that worked out well, such as Fashion.Mob [...] which we will run again,” Botero concluded. “We will continue to consolidate the trade fair as the heart of business in Latin America [...] and work hand-in-hand with the city of Medellin to see if we can expand, so that the show can keep on growing.”
MIAMI, Jan. 14, 2014 /PRNewswire/ -- (PXP) -- Colombia will welcome more than 32,000 international fashion professionals to the 26th annual Colombiatex trade show in Medellin, January 21-23, 2014. Working with Inexmoda, the institute for exports and fashion, Proexport Colombia will assist international exporters and buyers in finding the right partners for their business needs.
"The Colombian apparel industry not only offers high quality products, but is also a business-friendly environment that is ideal for international companies," said Maria Claudia Lacouture, president of Proexport, the Colombian government agency charged with promoting trade, investment and tourism. "Events such as Colombiatex allow our products to gain more international visibility, leading to more business with trade partners and the countries of the Pacific Alliance."
Proexport works closely with the Pacific Alliance, a political, economic and cooperative agreement established to foster growth, development and competitiveness for its member nations of Chile, Colombia, Peru and Mexico. The goals of Proexport and the Pacific Alliance fit in with this year's Colombiatex theme of "Transcending boundaries." With this in mind, Colombian exporters – from fiber distributors to designers, textile manufacturers to leather suppliers – will connect with companies from around the world to promote their products.
Colombia has more than 450 textile manufacturers and around 10,000 garment production units and is considered to have the third largest textile industry in Latin America. Colombian companies and designers produce raw textiles, equipment and finished products, from couture lines and lingerie to school uniforms and accessories. The country's 13 international free trade agreements have contributed to a growing demand for textiles over the past 10 years, with major foreign companies from the U.K. to the U.S. investing in the sector. In the last decade, the Colombian textile industry has grown at a rate of 8.4 percent per year.
Colombiatex is the largest business platform for fashion in Latin America. Around 1,750 international buyers from 28 countries are expected to attend the tradeshow in Plaza Mayor Medellin. In addition, there will be 500 exhibitors from around the world and 8,400 from within Colombia.
For more information, please visit www.proexport.com.co/en, www.colombiatex.com and prensa.inexmoda.org.co.
SOURCE Proexport Colombia
Brazilian E-Retailers Lead Latin America's E-Commerce RevolutionExpanded 33% in content, the Latin America 400 reveals for the first time the 400 largest web merchants in 10 Latin American countries—Argentina, Belize, Bolivia, Brazil, Chile, Colombia, El Salvador, Mexico, Uruguay and Venezuela—and includes 120 data points per retailer. Updated metrics for the 2013 edition include sales growth rates, conversion rates, average tickets, monthly web traffic, social networking affiliations, and merchandising category, to name but a few. And it contains the names, titles and addresses of 724 e-commerce executives who operate these leading Latin American e-retailers. The collective portrait painted of these retailers based on their 2012 online sales and other key metrics is one of robust growth, exceeding that of U.S. web sales growth last year: Total Latin America 400 web sales grew almost 19% in 2012, second only to the pace of e-commerce in China."From maturing e-retailers to skyrocketing start-ups, e-commerce in Latin America is booming, beckoning online retailers and solutions providers the world over to dance to a digital Latin beat," says Jack Love, Internet Retailer chairman and chief executive officer. "A strong case can be made for U.S. e-retailers to begin their pursuit of global e-commerce opportunities by first going south of their own border, where markets are closer, cultures are familiar and American brands are highly desired."
SOURCE Internet RetailerLatin America Leads Global Luxury Outlet GrowthLatin
America is now the world’s fastest growing region in terms of new luxury
outlets.World Bank invests €35mn in Russian and Latin American online fashion
Colombia has 32,000 fashion industry representatives at the 26th annual Colombiatex trade show
KUALA LUMPUR, Feb 23 (Bernama) -- Internet retailing is one of the most valuable and fastest expanding global channel with a compound annual growth rate (CAGR) of 12 percent forecasted from 2014-2019.
During the same period, Latin American Internet retailing is expected to see a CAGR growth of 10.8 percent and the United States 9.6 percent respectively.
The result was featured in Euromonitor International's new e-book for the Top Retailing Trends in North and South America on Feb 21, 2015, said Euromonitor in a statement issued today in Chicago, the United States.
To keep up with fast-growing competition, in-store retailers have added mobile apps for use in store to enhance consumer shopping experience and support higher taxes on Internet purchases.
Apart from the virtual stores, conventional convenience stores are also growing in popularity with different levels of growth in North and South American markets.
For example Super 24, the only convenience store chain in Guatemala, has tripled its stores since 2010 as many consumers are shopping at convenience stores in place of small independent grocers. Argentine cities are also turning to easier options to shop on the go and Colombians prefer the appealing prices and proximity of convenience stores.
"In the coming years, both North and South American regions will remain a lucrative but challenging retail environment. Sales will continue to grow due to innovation and the opportunity to utilize both online and in-store shopping experiences.
"However, companies need to be flexible on the needs of consumers, while differentiating themselves from their competitors to be successful in the industry," explained Sean Kreidler, Latin America Research Manager in the same statement.
To download your complimentary copy of the e-book, please visit: http://go.euromonitor.com/Top-Retailing-Trends-in-the-Americas-2015.html
--BERNAMA
Debbie Farah Speaking at Nexus Caribbean Youth Summit in Montego Bay, Jamaica
M2 Communications 02/02/2015 12:34 PM ET
Bajalia International Group has been invited to participate in the Nexus Caribbean Global Youth Summit Debbie Farah, CEO of Bajalia, will be speaking on topics focusing on women's economic development and social enterprises i n the Caribbean. Bajalia is a Winter Park, Florida based ethical fashion company that leads the world in international fair trade and scaling artisan enterprises while defining ethical standards within their supply chain. Her passion is incubating groups of artisans who develop and manufacture the handcrafted international jewelry and fashion accessories that Bajalia markets and distributes in the US, Canada and Europe.
The Nexus Youth Summit is a global movement of 2000 + young people from over 70 countries working to increase and improve philanthropy and impact investing by bridging communities of wealth and social entrepreneurship. Founded in 2011, Nexus puts the hope and promise of young people on the world stage by bringing leaders together at Nexus Summits around the world for dialogue, Education and collaborative problem-solving.This is the first time these doers and thinkers are launching this conference in the Caribbean Islands to build bridges between the various other Caribbean nations and countries.Debbie is excited to be a part of The Nexus Caribbean Youth Summit February 5-7, 2015. She explained, "The forum will highlight a diverse group of women and companies who are leaders in the Caribbean. Focusing on cultural inclusion, social innovation, global networking, and the changing dialogue of philanthropy, impact investing and social entrepreneurship."Farah's main topic will be combining her passions for entrepreneurship and fashion to benefit local artisans through a social enterprise business model.
Debbie remarked "Alleviating poverty and empowering women through job creation, while taking their work to scale on a global level is our goal." Farah is a strong supporter of developing lasting and successful mentoring and scaling of female entrepreneurial initiatives around the world.Farah is excited to be leading a conversation focusing on the new launch of Kenneth Cole and REBUILD Globally collaboration of foot ware,made from recycled tires for his Look Good for Good initiative. Julie Colombino, founder of REBUILD Globally and Amanda Coles, daughter of Kenneth Cole will be joining in the conversation.
Debbie Farah is well known to many through her popular segments representing the extensive Bajalia Jewelry and fashion accessories on HSN. Her next appearance on HSN will be February 26, 2015. Debbie will spend several hours not only talking about the amazing jewelry from female artisans around the world, but relating her ever inspiring stories from her visits to their workshops to review and act as an advisor to their emerging world business."We are at a historic moment in time, where we can actually end extreme poverty in our lifetime." Farah explained "We can do this only by investing in the health and well-being of girls and women in the developing world."
Bahari signs distribution deal with multi-million dollar online retailerBy Maven GroupDec 10, 2014 - 12:55:16 PM |
|
© Copyright 2014 by thebahamasweekly.com
Russia ranks first among emerging markets
"Russia ranks first among emerging markets," eBay head John Donahoe said during a visit to the country in September.
An attractive target, Russia’s growing middle class is set to expand to 82 percent of the population by 2015, according to state statistic service Rosstat.
Already, Russia is home to Europe’s largest internet market, which is in part fueled by the success of Yandex, the home-grown Russian search engine that is even more popular than Google or Yahoo. Though many in Russian cities are plugged in electronically, not everyone is on the internet, which offers a lot of potential growth.
Morgan Stanley forecast retail sales in Russia will take off even further, and by 2015, e-commerce will triple to $36 billion, and make up 5 percent of total retail sales. Currently, online shopping only accounts for 2 percent of retail sales.
Russians love to shop, especially for foreign goods, which was causing Moscow’s airports to become overrun with delivery packages. DHL and FedEx have both suspended foreign parcels to individuals due to stricter customs procedures, which have significantly slowed deliveries. Efficiency is also difficult to ensure to clients in remote cities, as Russia's territory stretches over nine time zones.
In an effort to keep more business domestic, the Economic Development Ministry and government have decreased the tax-free threshold on purchases from foreign online shops to $150 from $1,000. The idea was floated around last year by President Vladimir Putin.
PM: Fashion earns $25M a yearBy Miranda La Rose Tuesday, January 28 2014
The local fashion industry employs more than 11,000 persons either directly or indirectly and generates more than $25 million annually, according to Prime Minister Kamla Persad-Bissessar.
Officially opening the signature “Vogue Italia Gala Event Under the Trees” at which ten local designers put their lines of clothing on stage at Hotel Normandie, St Ann’s on Sunday evening, Persad-Bissessar said, “Port-of-Spain is being positioned as a fashion district and the fashion capital of the Caribbean.”
She described the locations between Frederick and Charlotte streets as the only cloth district in the Caribbean and listed the names of local designers synonymous with the highest quality of fashion, including more recently Anya Ayoung Chee, winner of Season 9 of the Project Runway Lifetime TV programme.
The event, organised by the Trinidad and Tobago Creative Industries (CreativeTT) and held under the theme “Masquerade,” was done in partnership with the Italian version of the internationally renowned fashion magazine Vogue.
CreativeTT’s partnership with Vogue Italia, Persad-Bissessar said, makes the point that the fashion sector still has tremendous potential to be explored.
TT’s fashion talent being featured in the Spring/Summer issue of Vogue Italia in May 2014 will present an excellent platform for that potential, she said.
Among those presenting their line of clothing, which ranged from fashionable tantalising bikinis, light and colourful casual wear to flowing evening gowns were Adrian Forester, Christian Boucaud, Claudia Pegus, CLD, Health Jones, James Hackett of the University of Trinidad and Tobago, J Madison, Meiling, Noor, Peter Elias, and Rhion Romany.
The event, which started at 8.15 pm, an hour and a fifteen minutes late due to the late arrival of Persad-Bissessar, flowed without a hitch once it got started.
Earlier, Persad-Bissessar attended the start of the Week of Prayer at the National Academy for the Performing Arts. No one appeared to be fazed by the late start as cocktails and drinks were in abundance.
Scintillating pieces from the mas bands D’Crewe, Fantasy, Island People, K2K Alliance, Passion Carnival, Tribe and Yuma were also captivating. The event, Persad-Bissessar said, was one where talent, Government policy, and a tradition of creative and innovative genius converge.
She noted that the industry was tapping into the creative wealth of people as a means of diversifying the economy away from oil and gas. While Creative TT was at the forefront of the drive to stimulate and facilitate the business and export activities to generate wealth, she said UTT is offering a first degree in
Colombiatex 2014 surpasses all expectations
2013 /PRNewswire/ -- Economic growth, broader Internet penetration and the proliferation of inexpensive mobile devices that enable more consumers to shop online are all driving strong e-commerce growth in Latin America in general and Brazil in particular. The country home to the world's sixth-largest economy reported total retail sales last year of$336 billion, with total B2C e-commerce sales claiming a 3.6% share of those sales. Of the 400 top Latin American online retailers ranked by annual sales, 248 are based in Brazil and their collective web sales increased 19.9% to total $9.6 billion in 2012. Seven of the top 10 fastest-growing e-retailers are Brazilian: Web-only sporting goods merchant Kanui.com.br, whose web sales in 2012 grew nearly 9,000% to $120 million, is the fastest-growing Latin American e-retailer according to Internet Retailer's just-released 2013 Latin America 400, the only industry resource that comprehensively ranks and analyzes the 400 leading web merchants in the Americas outside of the U.S.—the fastest-growing global e-commerce market behind Asia and ahead of the U.S. and Europe.
Colombiatex (Photo: Cámara Lúcida)Heading into the 26th Annual Colombiatex de las Americas, Latin America’s biggest trade fair for the fashion production industry, organizers expected to generate an impressive $150 million in potential business deals, over the course of the three-day event in Medellin. When the fair came to a close on Thursday, however, it had brought together a reported $266.9 million in business dealings, a 75% increase from the previous year.“I think it [was] a very positive fair as much in quality as in quantity,” Carlos Botero, Executive President of Inexmoda, the group behind the event, told Colombia Reports.
“Everything worked extremely well to enrich the doing-business spirit in this 26th year of Colombiatex.
From the fair’s educational productions — such as the Textiles Forum, Denim Review, Denim Day, the Pavilion of Knowledge – to the new Fashion.Mob initiative, which aimed to combine gastronomy, fashion and music into a cross-media experience, everything went “supremely well,” according to Botero.
MORE: Colombiatex trade fair ‘transcends limits’ of fashion industryAs a result, business was very much booming at the region’s largest “fashion system” platform, where all the fashion industry’s various aspects come together to dialogue, from raw materials manufacturers, to designers, to machinery and equipment companies.
“In total, we welcomed [...] more than 26,000 visitors, of which 1,760 were international buyers from 41 difference countries,” said Botero, pointing to a 9% rise in visitors compared to the previous year, as well as the increasingly international appeal of the Colombian trade show.
“The Colombiatex fair has been steadily establishing itself as the business center of Latin America,” Botero affirms. “[For example], we don’t only get Ecuadorians coming to do business with Colombians, they also come to make deals with Peruvians, Brazilians, Americans.”
“This confirms precisely that this [...] is the fair that kick-starts the textile year in the continent, and I believe that it’s of great value that this opportunity take place here in Colombia.”
Botero attributed almost half of the total business generated during the event to the international trade agreement passed between Colombia, Peru, Mexico and Chile.
“More or less US$120 million came from the Alianza del Pacifico,” he said.
Residents of Pacific Alliance countries reportedly comprised 87% of the foreign visitors to Colombiatex 2014. Ecuador and the United States were also well-represented.
Ultimately, Botero believes the success of the 2014 fair was a result of a combinations of factors.
“Firstly, the last trimester of 2013 was positive for Colombia’s economy. This meant that for people business was good, and therefore it instilled a certain optimism at the start of this year.”
Botero also mentioned the speeches given by Colombian government officials at the inauguration of the fair as a source of motivation, and that the healing global – and specifically US — economy played a significant role in spurring business.
“On top of this, the quality of exhibitors at a fair such as Colombiatex, the level of organization and cooperation by the city of Medellin [...] all this generates a new dynamic whose impact can be seen in the business deals, which is what we witnessed in this year’s Colombiatex,” said Botero.
The more-than-satisfactory end result of Colombiatex 2014 has organizers already looking ahead to next year’s fair, which will bring back the Pavilion of Knowledge and other popular features and is scheduled to take place between January 27 and 29, 2015.
“I think we took some risks that worked out well, such as Fashion.Mob [...] which we will run again,” Botero concluded. “We will continue to consolidate the trade fair as the heart of business in Latin America [...] and work hand-in-hand with the city of Medellin to see if we can expand, so that the show can keep on growing.”
MIAMI, Jan. 14, 2014 /PRNewswire/ -- (PXP) -- Colombia will welcome more than 32,000 international fashion professionals to the 26th annual Colombiatex trade show in Medellin, January 21-23, 2014. Working with Inexmoda, the institute for exports and fashion, Proexport Colombia will assist international exporters and buyers in finding the right partners for their business needs.
"The Colombian apparel industry not only offers high quality products, but is also a business-friendly environment that is ideal for international companies," said Maria Claudia Lacouture, president of Proexport, the Colombian government agency charged with promoting trade, investment and tourism. "Events such as Colombiatex allow our products to gain more international visibility, leading to more business with trade partners and the countries of the Pacific Alliance."
Proexport works closely with the Pacific Alliance, a political, economic and cooperative agreement established to foster growth, development and competitiveness for its member nations of Chile, Colombia, Peru and Mexico. The goals of Proexport and the Pacific Alliance fit in with this year's Colombiatex theme of "Transcending boundaries." With this in mind, Colombian exporters – from fiber distributors to designers, textile manufacturers to leather suppliers – will connect with companies from around the world to promote their products.
Colombia has more than 450 textile manufacturers and around 10,000 garment production units and is considered to have the third largest textile industry in Latin America. Colombian companies and designers produce raw textiles, equipment and finished products, from couture lines and lingerie to school uniforms and accessories. The country's 13 international free trade agreements have contributed to a growing demand for textiles over the past 10 years, with major foreign companies from the U.K. to the U.S. investing in the sector. In the last decade, the Colombian textile industry has grown at a rate of 8.4 percent per year.
Colombiatex is the largest business platform for fashion in Latin America. Around 1,750 international buyers from 28 countries are expected to attend the tradeshow in Plaza Mayor Medellin. In addition, there will be 500 exhibitors from around the world and 8,400 from within Colombia.
For more information, please visit www.proexport.com.co/en, www.colombiatex.com and prensa.inexmoda.org.co.
SOURCE Proexport Colombia
Brazilian E-Retailers Lead Latin America's E-Commerce RevolutionExpanded 33% in content, the Latin America 400 reveals for the first time the 400 largest web merchants in 10 Latin American countries—Argentina, Belize, Bolivia, Brazil, Chile, Colombia, El Salvador, Mexico, Uruguay and Venezuela—and includes 120 data points per retailer. Updated metrics for the 2013 edition include sales growth rates, conversion rates, average tickets, monthly web traffic, social networking affiliations, and merchandising category, to name but a few. And it contains the names, titles and addresses of 724 e-commerce executives who operate these leading Latin American e-retailers. The collective portrait painted of these retailers based on their 2012 online sales and other key metrics is one of robust growth, exceeding that of U.S. web sales growth last year: Total Latin America 400 web sales grew almost 19% in 2012, second only to the pace of e-commerce in China."From maturing e-retailers to skyrocketing start-ups, e-commerce in Latin America is booming, beckoning online retailers and solutions providers the world over to dance to a digital Latin beat," says Jack Love, Internet Retailer chairman and chief executive officer. "A strong case can be made for U.S. e-retailers to begin their pursuit of global e-commerce opportunities by first going south of their own border, where markets are closer, cultures are familiar and American brands are highly desired."
SOURCE Internet RetailerLatin America Leads Global Luxury Outlet GrowthLatin America is now the world’s fastest growing region in terms of new luxury outlets.World Bank invests €35mn in Russian and Latin American online fashion
Colombia has 32,000 fashion industry representatives at the 26th annual Colombiatex trade show
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