When you hear that many brands are suffering, this can be good news for the reputation management pricing company so that they can come in and help major brands rebuild their online reputation. Brands like Lululemon and Saks have been talked about a lot recently in the news.
Lululemon stocks plunge dropped 23 percent and the CEO says it is probably due to them constantly trying to fulfill the vision yet they don’t know what that is. Although Lululemon is starting to have more competition from Kate Hudson’s Fabletics people will still rather pay for an honest service and be able to try on their clothes at a physical store like Lululemon has. Fabletics by Kate Hudson has the worst reviews I have seen in my entire life with a 1.5 star rated by 779 people. Many people claim that the style from Fabletics would be a 3/5, the quality is a 1/5 and the price is a 5/5. Lululemon has many loyal fans, many people say you can’t beat it and it has the top athletic wear around which is the honest truth. It is better to go with a high quality known brand locally than Fabletics that outsources their production and even their customer service.
Recently in the news Hudson’s Bay buys Saks for $2.9 billion dollars. It has brought on its US luxury retailer Saks. A Saks store is going to come to Canadian stores now since they bought Saks since they were struggling. There is room for competition here and companies like Holt Renfrew and Nordstrom should be scared. Hudson Bay will convert about 7 of their stores for Saks. The main question is will Canada be able to sustain Saks for Hudson’s Bay.
Now that Hudson’s Bay has bought Saks, they are willing to start accepting all types of gift cards. It will start allowing consumers to trade in gift cards from other stores in order to make purchases at the Bay. They are developing a gift card advantage program so that Hudson’s Bay customers will receive an offer for the cards that they want to trade in according to Sean O’Shea at Global News.