CHECKOUT COUNTER: Teavana teas arrive in Starbucks SA
A weekly round up of the hottest international retail and consumer news.
1. Hudson’s Bay announces thousands of lay-offs
The parent company of Saks Fifth Avenue and Lord & Taylor is cutting its workforce by about 2,000 jobs. The company says the lay-offs aim to "flatten the organisation by removing layers to make [Hudson’s Bay] more nimble and streamlined". The cost-saving drive comes after a six-month operational review.
2. Teavana teas arrive in Starbucks SA
Starbucks has launched its Teavana brand of teas across its stores in SA. The coffee brand acquired Teavana in 2012 in a $620m deal. The local range includes hot and shaken iced teas, including six full leaf teas — black tea (English Breakfast), green tea (Emperor’s Clouds & Mist), white tea (Youthberry) and herbal infusions (Chamomile, Mint Blend, and Hibiscus).
3. Uber rival gets $25m boost from Jaguar Land Rover
Jaguar Land Rover has invested $25m in Lyft, the second-largest ride-hailing company in the US. Jaguar Land Rover, a subsidiary of Tata Motors, says it is working with Lyft on autonomous-driving technology and will offer vehicles for rent to the start-up’s drivers.
4. New boss at J Crew
Longtime chief of J Crew Group, Mickey Drexler, is handing over the reins to James Brett. The move is aimed at reviving the fortunes of the retail brand, which has had 10 straight quarters of declining sales and two years of losses. Brett, who most recently served as president of West Elm, a member of Williams-Sonoma, will take up the CEO position in July.