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Global Children’s Wear Industry
New York, July 13, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Children’s Wear Industry" - https://www.reportlinker.com/p04951650/?utm_source=GNW9 Billion by 2027, growing at a CAGR of 3.7% over the analysis period 2020-2027.Girls Wear, one of the segments analyzed in the report, is projected to grow at a 3.8% CAGR to reach US$132.3 Billion by the end of the analysis period.After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Boys Wear segment is readjusted to a revised 2.8% CAGR for the next 7-year period. This segment currently accounts for a 32.5% share of the global Children’s Wear market.The U.S. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 6.7% CAGR for the Period of 2020-2027The Children’s Wear market in the U.S. is estimated at US$68 Billion in the year 2020. The country currently accounts for a 26.98% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$68.8 Billion in the year 2027 trailing a CAGR of 6.7% through 2027. Among the other noteworthy geographic markets are Japan and
Huawei faces ban from Britain's 5G networks by 2027 in crackdown plan
LONDON (BLOOMBERG) - Britain is poised to ban Huawei Technologies from its next generation mobile networks under a two-step plan designed to protect critical communication systems from potential security threats, a person familiar with the matter said.
Under the blueprint, British phone companies will not be able to add any new Huawei components to their 5G networks by the end of the year. After that, all existing equipment made by the Shenzhen-based company would need to be removed from 5G networks by 2027, the person said.
Prime Minister Boris Johnson, his senior ministers and top security chiefs are due to be presented with the proposal at a meeting of the National Security Council on Tuesday (July 14), with an announcement expected later in the House of Commons.
If the plan is agreed at that meeting, it would mark a major reversal by Johnson, and risk escalating tensions between Britain and China at a highly sensitive time.
Johnson gave the green light to Huawei's involvement in emerging mobile networks in January, subject to limits, but he came under pressure from US President Donald Trump to change course. Recent additional US sanctions on the company have changed the calculus in London.
In May, the US banned Huawei from sourcing microchips which use American technology, a move that forced British officials to reassess their view of the security and sustainability of using the company's equipment in 5G networks.
The prevalence of chips that are made with or incorporate US technology caused New Street Research analyst Pierre Ferragu to declare in May that "Huawei has 12 months left to live".
At the same time, Johnson has faced demands from within his own Conservative Party to take a tougher line with Beijing. Senior Tories demanded the premier should give firm deadlines for when Huawei will be blocked from Britain, amid concerns its equipment could be used by Chinese spies - a charge the company denies.
Neiman CEO Geoffroy van Raemdonck bags big checks after waiving salary
The boss of Neiman Marcus has been getting paid lavishly to lead the swanky chain out of bankruptcy — and that’s ruffling feathers in the rank-and-file.
On March 30, Geoffroy van Raemdonck — a Belgian-born luxury merchant who was named chief executive two years ago — declared he was waiving “100 percent” of his salary while he furloughed more than 14,000 workers amid lockdowns that had shuttered the Dallas-based luxury retailer’s stores nationwide.
A recent filing in bankruptcy court, however, reveals that van Raemdonck continued to pocket big paychecks in the weeks that followed, even as thousands of workers at dozens of stores were sent to the unemployment line.
On April 10, van Raemdonck got a salary check for $57,692, implying a yearly salary of $1.5 million, court documents show. Later in the month, two smaller salary checks arrived totaling $17,230. And on April 24, van Raemdonck got a payment of $172,135 to offset taxes on more than $2 million in stock options he received the previous year.
Info on van Raemdonck’s pay since April couldn’t immediately be obtained, and a Neiman Marcus spokeswoman declined to comment for this story.
In the year leading up to Neiman’s bankruptcy filing, van Raemdonck received three pay raises that saw his annual salary jump from $1 million to $1.2 million and finally to $1.5 million on March 13. Along with each bi-weekly paycheck, the executive also received a $19,230 bonus check, according to court documents.
The fat pay and perks are irking Neiman employees, who gripe that van Raemdonck has been slow to bring people back to work as lockdowns get lifted nationwide, instead limiting most stores to curbside pickup service.
“I can tell you that after seeing this I feel betrayed as he has personally told us that he has given up his salary, but never told us he received the bonus,” an employee who asked to remain anonymous for fear of reprisal told The Post in an email.
“He told us he appreciates our sacrifices, but it looks like he’s not making any himself. He has continually talked about love of customers and how we’re in this together, but after no salary increases and job cuts it seems very one-sided.”
Five weeks after van Raemdonck’s no-salary pledge on May 7, Neiman Marcus filed for Chapter 11. That day, van Raemdonck told Women’s Wear Daily that if it weren’t for the coronavirus, the company wouldn’t have gone bankrupt.
“The mood is positive,” he told the trade publication. “We have a very healthy business and we were on track to deliver more profit this year than last year and grow our gross margin and our top line.”
But skeptics say it’s also possible that Neiman — which has been struggling for years under more than $4 billion in debt it was saddled with in a private-equity buyout — had been preparing for a possible bankruptcy months earlier.
In February, the board handed van Raemdonck a $4 million bonus. While it looks like optimism on the face, experts say it also could be part of a recent trend by boards to hand out bonuses shortly before filing for bankruptcy to avoid having to tangle with creditors and judges over generous pay plans in court.
“My guess is that when they took the bonus, that bankruptcy was a distinct possibility,” said Kenneth Rosen, a bankruptcy attorney at Lowenstein Sandler. “The pandemic may have expedited it, but in the midst of their distress the entire senior management team grabbed a lot of money,” Rosen said of the filings.
Neiman on June 22 also approved cash payouts for seven other top executives, saying their “workloads expand significantly” during bankruptcy, according to the filing. Chief Merchant Officer Svetlana Todorovich stands to receive the second-highest bonus of $600,000 if Neiman Marcus exits bankruptcy by Sept. 15, and that’s on top of an $800,000 bonus she received on April 17.
But it’s van Raemdonck who stands to bag the biggest prize — an additional bonus of $3 million — if Neiman exits Chapter 11 by Sept. 15. The bonus gets halved if Neiman exits by Oct. 7 and a later exit would net him just $750,000, the documents show.
Some industry insiders say that could explain van Raemdonck’s reluctance to fully reopen stores, noting that rival Saks Fifth Avenue has been more aggressive in opening its doors to customers, outfitting its staff in masks and gloves and aggressively sanitizing store fixtures throughout the day.
“Geoffroy is saving his cash so when the bankruptcy judge asks, do you have enough cash, he can say ‘yes’,” one industry executive speculated.
Rosen, of Lowenstein Sandler, noted that such pay incentives can cloud an executive’s judgment.
“It places them in the position of making a decision that is good for them individually but not necessarily good for the business,” Rosen said. “Every time that person has to make a decision they will think of whether it’ll delay the case and what that will mean for them financially.”
SoftBank hires Goldman Sachs to explore sale options for chip designer Arm after getting...
Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., gestures whilst speaking during a news conference in London, on Monday, July 18, 2016.
Chris Ratcliffe | Bloomberg | Getty Images
SoftBank has hired Goldman Sachs to explore both an initial public offering and a sale of U.K. chip designer Arm Holdings, according to people familiar with the matter.
SoftBank has been preparing to spin out Arm in an IPO but has recently begun exploring sale options after receiving interest from an outside party, said two people, who asked not to be named because the discussions are private. It's unclear if the outside company or entity is interested in buying all or just part of Arm, which was acquired by SoftBank for about $32 billion four years ago.
The Wall Street Journal first reported SoftBank had hired Goldman to gauge sale interest. Spokespeople at SoftBank and Goldman Sachs declined to comment.
SoftBank is looking for more cash to help support companies in its $100 billion Vision Fund, many of which have struggled since the pandemic and quarantines started. SoftBank agreed to sell about $21 billion of its stake in T-Mobile after merging Sprint with the third largest U.S. wireless company last year. The Japanese technology holding company has said it plans to sell up to $41 billion in assets. SoftBank is also buying back billions of shares, which has helped boost its stock in recent months.
SoftBank bought Arm as an investment in the so-called Internet of Things -- the idea that wireless connectivity among everyday items such as refrigerators, cars and other devices would lead to useful new scenarios. Arm said last week it planned to transfer its IoT divisions to SoftBank. The announcement was made to focus the company on an initial public offering more than a year from now, one of the people said.
Few companies could afford to buy all of Arm without intense regulatory scrutiny. Arm has found a niche as a neutral designer of the microprocessors that works with many of the largest equipment manufacturers, including the majority of the world's smartphones. Apple, Samsung and Qualcomm all use Arm technology in various ways.
There have been few large semiconductor deals in recent years after a flurry of consolidation from 2014 to 2016. Part of the slowdown in recent years is related to CFIUS (The Committee on Foreign Investment in the United States) concerns about sharing technology with Chinese companies. Still, Analog Devices announced it planned to acquire Maxim Integrated Products for about $21 billion on Monday -- a deal that could bring activity back to the market.
WATCH: Why SoftBank's purchase of ARM is a positive
Venture X Dallas Campbell Centre Offers Flexible Coworking Tips for Dallas Digital Nomads
Dallas, TX , July 13, 2020 (GLOBE NEWSWIRE) -- Venture X Dallas Campbell Centre Offers Flexible Coworking Tips for Dallas Digital Nomads The phrase “digital nomad” has only been around since 1997, but it has become part of the booming culture of people who have found ways to work from anywhere. Coworking spaces are perfect for this group of workers. With a coworking space, digital nomads can work whenever and wherever they want. Because many digital nomads have a home base where they live when they’re not traveling, coworking spaces offer flexibility, comfort, and professional amenities. If you’re a Dallas digital nomad, there are strategies you can use to make sure your business thrives even as you enjoy the flexibility of creating a work-life balance that best suits your lifestyle. Here are five tips to keep in mind. Here are 5 tips from Dallas Coworking Expert & CEO Jason Bowers to make your business thrive during COVID-19. 1. Choose the Right Coworking Space In real estate, the phrase “location, location, location” is king. The same rule applies to coworking spaces in the sense that finding the right kind of space is critical to your success. Whether you’re a freelancer, entrepreneur,
