Alibaba buys stake in US online retailer Zulily for $56m
May 2015 - Chinese e-commerce giant Alibaba has acquired a more than nine-per cent stake in US online retailer Zulily, according to regulatory papers.
In a filing with the securities and exchange commission , Alibaba said it had bought up about 4.8 million Zulily Class A shares at a cost of around $56 million, media reports said.
Added to the shares it already owned, Alibaba now has about a sixth of Zulily’s Class A stock, representing a 9.3 per cent stake in the company, the Wall Street Journal reported.
Zulily’s share price closed 12.67 per cent up at $13.30 on Friday. The Seattle-based retailer primarily sells clothing, toys and other items for kids and is mainly marketed towards mothers. (more…)
Gildan Appoints New Executive Vice-President, CFO
May 2015 - Gildan Activewear Inc. (TSX:GIL)(NYSE:GIL) announced the appointment of Rhodri J. Harries as Executive Vice-President, Chief Financial and Administrative Officer.
Harries, 51, has been the Chief Financial Officer of Rio Tinto Alcan since 2014, where previously he held the position of Chief Commercial Officer from 2009 to 2013. Mr. Harries joined Alcan in Montreal in 2004 as the Vice President and Corporate Treasurer and remained with the company following its acquisition by Rio Tinto in 2007. Prior to joining Alcan, Mr. Harries spent 15 years in North America, Asia and Europe with General Motors, where he held successive positions of increasing responsibility in corporate finance, treasury and business development. (more…)
Staples Acquires Accolade Promotion Group
April 2015 - Staples Inc., the parent company of Staples Promotional Products has agreed to acquire Canada-based Accolade Promotion Group.
“The acquisition will further Staples’ ability to bring customers a strong brand partner with a broader offering in Canada,” said Steve Bussberg, senior vice president of Staples Advantage, which oversees the Staples Promotional Products business. “APG’s vast experience serving customers in the financial and oil & gas industries will complement our strengths in the automotive, manufacturing and consumer goods industries.”
Accolade had been a division of retailer Golf Town, but now will become part of the Staples organization. Dan Craig, the head of Accolade, will become managing director of Staples Promotional Products Canada.