Saks Fifth Avenue
This article was originally published in The Rose Sheet
Executive Summary
Holding company for department store enters merger with Birmingham, Ala.-based Proffitt's, announced July 5. Under the agreement, no changes in Saks operations are anticipated in the short-term. Upon completion of the merger, Saks Fifth Avenue will become a Proffitt's subsidiary, and the Proffitt's name will be changed to Saks, Inc. headquartered in Birmingham. Proffitt's Chairman and CEO Brad Martin will retain his title as head of the new organization, and Saks Fifth Avenue Chairman and CEO Philip Miller and Vice Chairman and Chief Operating Officer Brian Kendrick will continue to manage the subsidiary. Subject to regulatory approval, the deal is slated to be complete by the end of the third quarter or early in the fourth. The combined corporation would operate 330 stores in 38 states with 1998 revenues exceeding $6 bil...
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Marketing In Brief
ModiFace launches forecasting tool: Toronto-based virtual makeover firm introduces ShadeCast, a makeup sampling and forecasting tool based on behavioral tracking. ShadeCast is used in conjunction with iPhone application MakeUp, which allows consumers to virtually try on makeup in hundreds of shades from brands including Revlon, Cover Girl, Lancome and Clinique. ShadeCast offers 1,000 cosmetic shades from 40 brands and assigns a ShadeScore "to approximately position the [app's] hottest and most sampled color." ModiFace exec Nikkie Gatto likens the app to radio music playlists, helping consumers "looking to capture the current look, but also provide vital market intelligence to our retail channel partners," she says in Nov. 3 release. "The value of data to demonstrate the aggregate behavior will help the industry predict the latest trends and help cosmetic manufacturers better understand the color and products which most resonate with online and iPhone virtual makeover users," the company says