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Kohl’s: Takeover bids not up to snuff

Menomonee Falls, Wis. – Kohl’s board of directors is saying “thanks, but no thanks” to acquisition bids on offer for the company. It also put in place a one-year shareholder rights plan, often referred to as a poison pill, to avert hostile takeover bids.

The board announced that a review conducted in concert with its independent financial advisors has determined that offered valuations of its business are too low in light of the company’s future growth and cash flow projections.

The board’s Finance Committee, which consists of independent directors, will lead an ongoing review of any additional expressions of interest. The committee is chaired by John Schlifske, who is also chairman and CEO of The Northwestern Mutual Life Insurance Company. Members include:

  • Thomas Kingsbury, former president & CEO of Burlington Stores
  • Adrianne Shapira, managing director of Eurazeo Brands
  • Peter Boneparth, former president & CEO of Jones Apparel Group and a former advisor on the retail industry to The Blackstone Group
  • Frank Sica, a partner at Tailwind Capital and Kohl’s chairman of the board

The company and the board have also engaged financial advisors, including Goldman Sachs and PJT Partners, and have asked Goldman Sachs to engage with interested parties, it

Nest Bedding to open new store

Chico, Calif. – Nest Bedding is adding to its West Coast bricks operations with the opening of a new store this week.

The family-owned and operated, factory direct mattress and bedding brand’s newest unit is located in its headquarters city of Chico at 1905 Notre Dame Blvd. Suite 140. The store will carry Nest Bedding mattresses, sheets, pillows and additional categories.

The digitally native brand now grows to seven physical stores in California. It also has showroom stores in Phoenix, Houston, Austin, Minneapolis and New York.

Launched in 2011 as a bed-in-a-box concept, the brand focuses on organic, natural, and certified luxury products. Its mattresses are designed and manufactured in the USA using high-quality certified clean materials to be free of harmful chemicals.

 

 

 

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Pinterest adds new AR feature for home décor

SAN FRANCISCO – Social media site Pinterest has added a new feature called Try on for Home Décor.

The newly available augmented reality technology enables pinners to virtually place items from retailers such as Crate & Barrel, CB2, Walmart, West Elm and Wayfair in their home using the Pinterest lens camera so they can visualize the item in their own space before they buy.

“Since the pandemic began, we’re seeing more digitally savvy shoppers than ever before, as millions of people now expect virtual and mobile options to try before they buy, see personalized recommendations and gather information as part of their decision making process,” said Jeremy King, Pinterest senior vice president of engineering. “These behaviors are happening across Pinterest every day, which is why we’re continuing to advance technologies like AR Try On and make Pinterest a full funnel shopping destination.”

The new virtual home decor experience is now launching live across more than 80,000 shoppable pins.

“Customers look to Crate & Barrel and CB2 to find unique pieces, built to last a lifetime. We understand that the path to purchase is not always linear, especially when it comes to furniture,” said Joan King, Crate & Barrel and CB2

Lowes launches Origin21, its first exclusive modern brand

Lowes new exclusive line Origin21 offers items including patio furniture, faux plants and decorative accents.

MOORESVILLE, N.C. – Lowes has launched its first modern style exclusive brand, called Origin21,which includes items ranging from throw pillow, rugs and patio furniture to light fixtures and faux plants.

“While the line’s name pays tribute to 1921, the year of Lowe’s founding, Origin21 brings fresh modern style, designed to add the finishing touch to any room across the home,” said Sarah Dodd, Lowe’s senior vice president, global merchandising. “We’re excited to bring Origin21 to our customers. It is part of our larger goal to offer consumers everything they need to finish their home improvement projects, all at an exceptional value.”

The brand is part of Lowe’s new House of Style campaign with a goal of providing “styles for every style” at affordable prices, according to Dodd.

Designed by Lowe’s for the stylish, trend-seeking millennial consumer, Origin21 pairs function and beauty through on-trend items each season, according to the company, with the collection pulling inspiration from various styles.

Lowes said the pieces from Origin21 feature clean lines, soft curves and natural materials that can stand alone or flow together in a single space. Architectural details

DCOTA sets agenda for Winter Market 2022

DANIA BEACH, Fla. — The Design Center of the Americas is hosting Winter Market on Feb. 16, featuring events specifically for design industry insiders.

Themed The Renaissance of Design: An Ode to Our Past and Future, the event will begin at 10 a.m. with a keynote on the future of NFTs.

“DCOTA offers an elevated experience for design professionals and design enthusiasts, showcasing impeccably curated to-the-trade showrooms with an unrivaled bespoke product selection,” said Jessica Idarraga, director of marketing.

Events for the day-long market include:

Crestron Presents the Future of NFTs
10 a.m. in Atrium C
With Tam Gryn, curator and director of fine arts at Rally.IO; Dan Mikesell, president of Blackdove; and artist Francesco Lo Castro, who replicates his real-life sculptures as unique digital assets. Please register online.

The Future of NFTs: Meet and Greet in the Crestron showroom
11 a.m., suite B-108
Join us in the Crestron showroom for bites and drinks and conversation with Blackdove President Dan Mikesell. RSVP to marketing@dcota.com

The Next Wave of Luxury in Real Estate and Design
12 noon, Atrium C
Discussion about South Florida’s newest developments, the current real estate market, and what the future holds for the Magic City’s ever-expanding skyline.