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VF Corporation Appoints Nicole Otto as Global Brand President, The North Face®

11 January 2022, Mumbai:

VF Corporation today announced that it has appointed Nicole Otto to the position of Global Brand President, The North Face®. Otto joins VF following a successful 16-year career at Nike and will succeed Steve Murray, who is retiring and returning to the UK.

The leadership transition will be effective June 2022. Otto will report to VF Chairman, President and CEO, Steve Rendle, and serve on VF’s Executive Leadership Team.

Nicole Otto, VF Corporation (Photo: Business Wire)

Otto most recently served as Vice President of Nike Direct North America from 2018 through May 2021. In this role, she oversaw Nike’s digital experiences and full fleet of inline and factory stores throughout the North America region.

Otto was responsible for integrating the company’s physical and digital retail ecosystem to deliver online-to-offline services and experiences that forge deep connections with consumers. Under her leadership, Nike launched new flagship and Nike Live experiences in New York City and Los Angeles and began its expansion of owned retail across the U.S.

“Nicole is the right leader who brings the right capabilities to The North Face® brand at the right time,” said Rendle.

“Her global industry experience and deep understanding of consumer engagement strategies – through both physical retail and digital commerce – make her ideally suited to take the helm of this iconic brand and accelerate growth through even more compelling direct connections with consumers worldwide. Nicole is a proven innovator and future-focused leader who will further strengthen The North Face® brand’s exceptional global executive team. We’re excited to welcome her to the VF family.”

With her deep digital experience, Otto was also a key architect of Nike’s digital consumer-facing technology platforms during the past decade. Before joining Nike’s North America team, she held several regional and global leadership roles within the company’s digital business.

She served as Vice President & General Manager of Digital Commerce in EMEA, during which time she led the launch of the Nike app and the SNKRS app. She previously served as Vice President & General Manager of Nike.com Global Store, Vice President of Global Digital Commerce Operations, and Vice President of Consumer Digital Tech. Otto began her career at Nike in 2005 after working in Information Technology at Charles Schwab in San Francisco.

“Few brands in the world have earned truly iconic status like The North Face® and I couldn’t be more excited to be joining the brand at this time,” said Otto. “I look forward to working closely with The North Face® leadership team in addition to VF leadership to drive the next phase of growth for this beloved global brand and all that it represents.”

Otto’s appointment is part of VF’s succession plan in response to Steve Murray’s planned retirement this year. Murray was appointed Global Brand President, The North Face®, in September 2020. He previously served as Executive Vice President and Group President for VF’s Americas Region and earlier as President of VF’s Action Sports Coalition and Global Brand President of Vans®.

“We appointed Steve to lead The North Face® brand knowing that his retirement was on the horizon but also recognizing that we could leverage his incredible 30-plus years of industry experience to strengthen the brand’s proposition with consumers,” said Rendle.

“During his tenure, Steve further enhanced the brand’s outdoor credentials; turbo charged its apparel, accessories, and equipment product engines; introduced innovative technologies such as FUTURELIGHTTM; built a successful footwear business; and refined its channel and segmentation strategies, among many other accomplishments. Steve will leave The North Face® brand in an incredibly strong position for Nicole to build on as she advances our direct-to-consumer and digital transformation.”

 

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VF Corporation Appoints Nicole Otto as Global Brand President, The North Face®

Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) x ILO stitch MoU for Bangladesh knitwear workers’ safety

10 January 2022, Mumbai:

Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), and International Labor Organisation (ILO) have signed a Memorandum of Understanding (MoU) to ensure occupational safety and health of knitwear workers.

BKMEA Senior Vice-President Mansur Ahmed, Vice- President Fazle Shamim Ehsan, and ILO Country Director for Bangladesh Tuomo Poutiainen, Workplace Safety Expert Maurice L Brooks singed the MoU on behalf of their respective organisations on Sunday at BKMEA Dhaka Office, said a press release.

BKMEA, ILO sign MoU for knitwear workers’ safety  

According to the press release, 50 enlisted knitwear factory workers under national initiative will be benefited from the project. 

The organisation's safety committee will receive the necessary training and technical assistance in the areas of health and safety, risk and accident reduction, and Covid-19 eradication steps.

Mansur Ahmed said the project will work strive to advance knitwear factory productivity as well as worker health and safety. And the progress will be pivotal to national development.

Referring to the project as a milestone, ILO Country Director for Bangladesh Tuomo Poutiainen said, "The project has made occupational safety and health important in Bangladesh. Since production has a direct relationship with workers, their occupational health and safety should be given attention.

The higher officials of the BKMEA and ILO were also present at the ceremony.

TBS NEWS 

(The news article has not been edited by DFU Publications staff)

 

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Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) x ILO stitch MoU for Bangladesh knitwear workers’ safety

Adidas starts its multi-year share buyback program and plans to repurchase shares for up to € 1 billion in Q1 2022

11 January 2022, Mumbai:

Adidas today announced the start of the first tranche of its multi-year share buyback program announced in December 2021. The company intends to repurchase own shares in an amount of up to € 1 billion in the first quarter of 2022.

In total, under the new program, adidas plans to buy back own shares for up to € 4 billion until 2025.

Taking into consideration the € 1 billion share buyback completed in 2021 already, the company intends to return up to € 5 billion to its shareholders through regular share buybacks alone during the five-year strategic cycle of the new company strategy ‘Own the Game’.

Stock Buybacks: Why Do Companies Buy Back Shares?

The share buyback activities are complemented by annual dividend payouts in the range of 30% to 50% of net income from continuing operations.

Strong cash returns are a key component of the company’s strategy. As part of ‘Own the Game’ adidas intends to generate substantial cumulative free cash flow until 2025. The majority of it – between € 8 and € 9 billion – will be distributed to adidas’ shareholders.

On top of that, the company plans to return most of the cash proceeds from the Reebok divestiture to its shareholders after closing of the transaction, which is expected to occur during the first quarter of 2022.

As with previous share buybacks, adidas intends to cancel most of the shares repurchased during the program, which would reduce the number of shares as well as the share capital accordingly.

 

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Adidas starts its multi-year share buyback program and plans to repurchase shares for up to € 1 billion in Q1 2022

BANGLADESH: Country's next development phase depends on industrialization

10 January 2022, Mumbai

The next phase of Bangladesh's development will hugely depend on industrialization and the government's initiatives of developing infrastructure and enhancing power generation will accelerate the industrial growth in the country.

Moreover, the government is setting up industrial zones across the country to facilitate planned industrial growth.

Bangladesh Garment Manufacturers + Exporters Association Adds New Pres –  Sourcing Journal

Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), made the observations while visiting EPV Thakurgaon Ltd power plant at Gouripur in Thakurgaon on Friday.

Faruque Hassan said successful implementation of the project will be a milestone for the growth of the northern part of Bangladesh.

BGMEA 

(The news article has not been edited by DFU Publications staff)

 

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BANGLADESH: Country's next development phase depends on industrialization

Lululemon to appoint Ex-Amazon resource as its CEO for 'At-Home Gym, Mirror'

07 January 2022, Mumbai:

Lululemon Athletica Inc. is doubling down on Mirror, bringing in an Amazon veteran to run the interactive home gym just a day after Nike Inc. accused its active rival of infringing on its high-tech patents.

Michael Aragon, who spent five years as chief content officer on Amazon’s successful Twitch livestreaming platform, was named chief executive officer of Mirror and Lululemon Digital Fitness, starting Jan. 17.

Aragon is charged with overseeing the development and expansion of Mirror, reporting to Lululemon’s CEO Calvin McDonald.

Lululemon said the appointment “accelerates Lululemon’s ability to fully realize its vision for Mirror to build and extend the Lululemon community globally.”

Michael Aragon previously served the role of chief content officer of Twitch, Amazon's livestreaming business.

During his time leading Twitch, Aragon expanded the platform to 8 million content creators from 1 million and pushed the business beyond the streaming of video games.

McDonald said Aragon “is the ideal leader to chart the path forward for Mirror as we engage with the more than 10 million Lululemon guests who live the sweat life.”

Aragon added, “Mirror has a strong market position with a growing subscriber base, and I look forward to building upon this solid foundation and defining the next chapter of growth with the talented Mirror team.”

Lululemon bills Mirror as “a nearly invisible, interactive home gym featuring live and on-demand fitness classes and personal training in a variety of workout genres.”

The initiative is a major focus for Lululemon, which has a market capitalization of $47.7 billion and is looking to keep expanding its approach to active. The company spent $500 million to bring Mirror into the fold in 2020, but faced some headwinds in the business last year and projected annual revenues of $125 million to $130 million, down from the $150 million previously cited.

While Lululemon’s spin on sports is heavy on wellness and community, Nike, with a market capitalization of $254.9 billion, sees a competitor.

Nike this week filed suit in Manhattan federal court against Lululemon, claiming that the Beaverton, Ore.-based behemoth “spent decades creating game-changing digital sport technologies” and is now having its hard work ripped off.

In the suit, Nike pointed to a long list of its digital and high-tech products and innovations, including the Nike+ FuelBand and the Nike+ Kinect fitness video game on the Xbox 360.

“Nike’s digital ecosystem has more than 75 million people who actively engage in its digital ecosystem of products,” the suit said. “These digital and digital sport innovations contributed, and continue to contribute, to Nike’s success and competitive positioning.

Partially because of this, Nike pursues intellectual property protection for its digital sport innovations, and Nike protects its hard-earned rights against infringement.”

The company said Lululemon is infringing on several of its patents “by making and selling the Mirror Home Gym and accompanying mobile applications.”

Nike said it notified Lululemon of its infringement, but that the company “summarily dismissed Nike’s claims.” It is seeking a jury trial and damages to “compensate Nike for Lululemon’s infringements.”

A spokesperson for Lululemon told WWD, “The patents in question are overly broad and invalid. We are confident in our position and look forward to defending it in court.”

YAHOO NEWS 

(The news article has not been edited by DFU Publications staff)

 

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Lululemon to appoint Ex-Amazon resource as its CEO for 'At-Home Gym, Mirror'

Aéropostale Owned by Authentic Brands Group Inc., withdraws IPO plans

10 January 2022, Mumbai:

Apparel chain operator Authentic Brands Group Inc on Wednesday withdrew its plans for an initial public offering in the United States, according to its filing with the securities regulator.

The company, which did not give a reason for shelving its listing, had agreed in November to sell a stake to private equity firms CVC Capital Partners and HPS Investment Partners in a deal that valued it at $12.7 billion including debt.

The group owns more than 30 brands including Forever 21, Aeropostale, Van Heusen and Bandolino with a retail portfolio spanning across luxury, specialty, department store, mid-tier, mass and e-commerce segments.

Media reports earlier this week said the company had bought a majority stake in former soccer player David Beckham's brand-management company, DB Ventures LLC.

A spokesperson for Authentic Brands on Thursday refuted the reports, saying the company does not currently have a partnership with DB Ventures.

Authentic Brands in July last year had filed to go public, intending to list on the New York Stock Exchange, revealing a strong jump in earnings in 2020.

REUTERS 

(The news article has not been edited by DFU Publications staff)

 

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Aéropostale Owned by Authentic Brands Group Inc., withdraws IPO plans

BGMEA and Asian University for Women keen to collaborate in creating higher education opportunities for more female garment workers

07 January, Mumbai: 2022

Founder of Asian University for Women (AUW) Kamal Ahmad paid a courtesy call on BGMEA President Faruque Hassan at BGMEA’s PR office in Gulshan, Dhaka on January 4.

They expressed interests of deepening collaboration between BGMEA and AUW to create opportunities for more female garment workers to pursue higher studies. 

Already over 100 girls, who are RMG workers, are studying at AUW free of cost with support from their respective employers.

During the years of studying, the factory authorities pay regular monthly salary to the workers enrolled in AUW so that their families do not face any hardship. 

Faruque Hassan said BGMEA would encourage its member factories to send female workers, who have talent and aspirations, to the university for higher studies and help them to pursue their dreams. 

BGMEA would also request stakeholders including brands, development partners and others to financially support the initiative of creating higher education opportunities for female garment workers in Bangladesh, he added.

BGMEA 

(The news article has not been edited by DFU Publications staff)

 

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BGMEA and Asian University for Women keen to collaborate in creating higher education opportunities for more female garment workers

Vasu Kuraparthy Receives 2021 Cotton Genetics

08 January 2022, Mumbai:

Research Award

Dr. Vasu Kuraparthy noted scientist and professor in North Carolina State University’s Crop & Soil Sciences Department, is the 2021 Cotton Genetics Research Award, recipient.

The announcement was made today during the 2022 Beltwide Cotton Improvement Conference, which convened as part of the

Comfy cotton clothes and their genetics khanal 2013

National Cotton Council-coordinated 2022 Beltwide Cotton Conferences in San Antonio, Texas. Kuraparthy, who was selected by the Joint Cotton Breeding committee received a plaque and a monetary award. Joshua Udall, research leader at the USDA-ARS Crop Germplasm Research Unit in College Station, Texas, and who served as this year’s Improvement Conference chair said Dr. Kuraparthy has

1) led innovative research projects in cotton genetics including leaf shape, photoperiod sensitivity, and bacterial blight, and

2) released improved breeding material for regional producers.<p>

 “Dr. Kuraparthy developed a NAM population for cotton that “will provide the genetic resources required to uncover the genetic basis of several key traits of cotton production. This population will be used for basic genetic research in cotton for the next decade and 0beyond.”

Dr. Don Jones, director of Breeding, Genetics, and Biotechnology for Cotton Incorporated, said in his nomination letter that Dr. Kuraparthy has established a first-class cotton genetics program using a combination of traditional breeding and modern genomic tools at North Carolina State.

Jones noted that Kuraparthy has “released improved cotton germplasm, broadened its narrow genetic base, and published his results at a prolific pace. He has developed numerous genomic resources used by cotton researchers for basic as well as applied cotton research.”

Kuraparthy earned his bachelor’s and master’s degrees in Agriculture and Plant Breeding from India’s ANGR Agricultural University and Punjab Agriculture University, respectively. He received his Ph.D. in Genetics from Kansas State University in Manhattan.

He was a research assistant and research associate at Kansas State before joining North Carolina State in 2008 where he served as both an assistant and associate professor in its Crop & Soil Sciences Department before becoming a department professor in 2020.

Dr. Kuraparthy has mentored numerous undergraduate/graduate students as well as visiting scientists, in advanced genetic and genomic technologies.

For the past four years, he has served as an associate editor for Crop Science, a bimonthly peer-reviewed scientific journal covering agronomy, and The Plant Genome, a triannual peer-reviewed scientific journal covering all aspects of plant genomics.

He also is a journal article reviewer for multiple scientific publications.

The annual Cotton Genetics Research Award was established in 1961 by U.S. commercial cotton breeders to recognize and encourage basic research in cotton genetics, cytogenetics, and breeding. 

It is administered by the Joint Cotton Breeding Committee consisting of representatives of the NCC, the USDA, state experiment stations, CottonIncorporated, and commercial breeders.

National Cotton Council  of America  

(The news article has not been edited by DFU Publications staff)

 

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Vasu Kuraparthy Receives 2021 Cotton Genetics

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