American Eagle—a lifestyle clothing and accessories retailer, also known as American Eagle Outfitters—recently revealed its plan to introduce a beauty business before the vacation season.
CEO Jay Schottenstein in an interview with experts said that the company has decided a unique name for the upcoming business that would be a surprise for everybody. After doing extensive consumer research, the company expects that this is an appropriate time to launch a beauty business.
The retailer did not specify if the new business would be internally established or plan to purchase another brand.
Data released by NPD Group revealed that American Eagle reached the market valuation of $18.8 Billion in 2018, with a hike of 6% compared to the previous year.
At present, a few beauty products such as makeup bags, eye shadow palettes, and concealers of different brands are available at American Eagle stores and its online shopping platform. The retailer also revealed a few months back that besides lifestyle and beauty products, it would start selling several CBD-infused products such as CBD-infused muscle balms, lotions, and aromatherapy items. The products will be supplied by Green Growth Brands are expected to be on sale at the platform from October 2019.
Likewise, the Chinese e-commerce behemoth Alibaba Group is planning to expand its business in India by taking the support of its subsidiary UCWeb. The information was acquired from a senior official of the company.
Huaiyuan Yang— Vice-President of UCWeb Global Business—stated that the company’s plotted moves towards e-commerce business expansion would not become a hurdle for Paytm. At present, Alibaba holds 30.15% stakes in Paytm and 3% stakes in Snapdeal.
UC Browser was launched in India almost a decade back. UCWeb claims that the browser’s registered user downloads at a global basis have reached to 1.1 Billion (excluding its native region China). Of 1.1 Billion global downloads, nearly half of them are from India.
Alibaba said that it would use UCWeb as a tool to promote and expand its e-commerce business in India, the actively growing market offering several opportunities.
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