Unpacking Nordstrom’s $3.8 Billion Take-Private Bid

Tom Ford Hires Haider Ackermann; Walmart and StockX Team Up

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WHAT YOU NEED TO KNOW TODAY: THURSDAY, SEPTEMBER 5, 2024 The Nordstrom family made an offer to take the department store chain private for $3.8 billion. Tom Ford has hired Haider Ackermann to be its creative director, following the sudden exit of Peter Hawkings. The CEO of Sowind group spoke with BoF about steering the Swiss watch brands Ulysse Nardin and Girard-Perregaux through a downturn. Walmart is teaming up with StockX to offer curated sneaker resale on its website.

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RETAIL Why Nordstrom's Founding Family Wants to Take the Retailer Private By Cathaleen Chen and Yola Mzizi

A $3.8 billion takeover bid represents a bet that saving the department store chain will be easier away from public scrutiny. READ MORE

LUXURY Tom Ford Names Haider Ackermann Creative Director By Robert Williams

The Colombian-born designer is known for his precise, sensual aesthetic. Owner Estée Lauder and licensee Zegna have lofty ambitions for the brand, whose former creative director Peter Hawkings exited suddenly in July. READ MORE

LUXURY Ulysse Nardin and Girard-Perregaux Chart a Post-Kering Future By Robin Swithinbank

Two underdog watchmakers with centuries-old histories have had to furlough workers in a slowing luxury market. But CEO Patrick Pruniaux sees opportunity ahead as the brands endeavour to stand on their own in the wake of a sale by Gucci-owner Kering. READ MORE

Why H&M and Inditex Are Betting on Lab-Grown Cotton READ MORE

Chow Tai Fook Jewellery Group Hires Gabriela Ferreira to Lead Global Push READ MORE

BoF PROFESSIONAL Join now and enjoy your first 30 days for just $/£/€1 START TRIAL

NEWS BRIEFS Nordstrom Family Offers to Take Chain Private for $3.8 Billion Walmart Bets on Collectible Sneakers to Grow Marketplace Service Bustle and W Magazine Owner BDG Closes Investment Round US Safety Commissioners Call for Investigation Into Shein, Temu

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Solving Fashion's $163 Billion Buying and Sizing Inaccuracy Problem Fashion's overstock issue is a $163 billion annual problem, according to Bloomberg Intelligence. Retail analytics platform Style Arcade's is seeking to change that. "I think many teams inherently know that sizing inaccuracy is a leaking bucket, but they haven't measured and benchmarked their accuracy," said its co-founder and CEO, Michaela Wessels. "Brands and retailers are losing, on average, up to 23 percent of profit on a monthly basis, due to inaccurate buying by size." Here, she shares how to get ahead of the evolving demands of consumers — and which AI-powered solutions are set to build measurable competitive advantage. READ MORE

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