Manhattan’s Soho district is full of retail stores from high end to fast fashion. For a while now, Uniqlo has occupied a popular stretch of the area and now, not too far from it is GU, its sister brand that offers a range of trendy styles for an affordable price.

“Uniqlo offers high-quality, high functional, basic guidance at a reasonable price, and GU offers more trends and variety of reliable quality [clothing] at an even lower price,” GU CEO Osamu Yunoki told Retail Brew over a Zoom call from NYC, where he was visiting to oversee the opening of the brand’s flagship store.

The retailer, based in Japan, already has stores across Asia, including in South Korea, mainland China, Hong Kong, and Taiwan. The new Soho outpost essentially marks the brand’s first store outside of Asia.

Keep reading here.—JS

In last month’s roundup full of CEO switch-ups, we looked into our retail executive crystal ball and predicted Nike’s CEO could be on the chopping block next—and sure enough, Nike’s leadership news headlined a month of C-suite changes. Here are the ones to know:

• Amid slipping sales for the shoe brand, Nike CEO John Donahoe is retiring after taking over the top spot in January 2020. He’s set to be replaced by Elliott Hill, who will return to the company following his retirement in 2020 after joining as an intern in 1988.
• Chris de Lapuente, head of LVMH’s selective retailing division, which houses Sephora, will retire on October 31, Bloomberg reported. De Lapuente has been with LVMH since 2011, when he joined as CEO of Sephora.
• KIND Snacks appointed Daniel Calderoni as CEO of KIND North America, filling the role held by Russell Stokes since 2021. Calderoni has previously held various roles at KIND parent company Mars, most recently GM for Mars Pet Nutrition in Canada. KIND founder Daniel Lubetzky, meanwhile, was added as a regular investor on Shark Tank after making guest appearances for the past five years.

Keep reading here.—EC

This week in fashion news: One major luxury designer stepped down, and another luxury conglomerate saw changes in the C-suite.

Alberta Ferretti leaving namesake brand

Alberta Ferretti, creative director at her eponymous brand, is leaving her position, with a successor to be named. The 74-year-old Italian designer, who founded the brand in 1981, said in a statement that her decision, while “difficult” and “complicated,” was also “very thoughtful…to make room for a new chapter for my brand, a new narrative.” Ferretti will continue to operate as the deputy chair of Aeffe, the luxury conglomerate that owns the brand.

Why this matters: The luxury industry has seen a slew of executive changes recently. Earlier this month, Tom Ford tapped designer Haider Ackermann as its new creative director, replacing former Creative Director Peter Hawkings, who only held the position for two months. Meanwhile, Burberry recently appointed Joshua Schulman as CEO, replacing Jonathan Akeroyd who also had a short stint at the company.

Keep reading here.—JS

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