Knowledge@Wharton
Traditional CEOs are terrified of digital disruptors, remembering how the once-mighty Blockbuster was dispatched by Netflix or how taxi services were upended by Uber, for example. Bank CEOs are no exception. Yet banks have the essential assets needed to turn aside many of the assaults on their business now underway from fintech, if only they would use them.
Footwear News
Katy Perry had inspiring meetings with fashion industry veterans Tommy Hilfiger and the late Vince Camuto along with visits to factories in the Tuscany region of Italy, as the pop singer nurtured an affinity for the world of shoe design and manufacturing. The line - the first of several fashion projects - is an affordable take on the star's bold, signature style.
The New York Times
Major companies appear to be re-evaluating their relationships with the Trump brand. Hinting at lackluster sales, Neiman Marcus confirmed that it had dropped Ivanka Trump's jewelry line from its website. A day earlier, her brand had disappeared from Nordstrom.com, a move reported by the fashion news site Racked.
Motor Authority
Effective March 1, BMW North America will have a new CEO. Bernhard Kuhnt will take over the position from Ludwig Willisch, who stays on as head of BMW Group Region Americas. The move comes after BMW sold 313,174 vehicles in the U.S. in 2016, a decrease of 9.5% that also dropped the brand from second to third place among luxury marques.
Fox Business
For Gatorade, the surprise sports-drink baths have been a massive marketing coup. Since 1987, 20 of 30 Super Bowls have featured a Gatorade dunk by the victorious team. Those 20 instances have generated more than $17 million in equivalent advertising value across television, radio and other mediums, according to Apex Marketing, an analytics firm.
Fortune
Nordstrom said on Thursday that it would stop selling Ivanka Trump items this season because of the controversial brand's performance, a move that follows boycotts by some shoppers who are angered by her father, President Donald Trump, and his White House policies. "We've said all along we make buying decisions based on performance," a spokesperson said.
Minneapolis Star Tribune
An international animal welfare group claims that a supplier of pigs to Hormel Foods Corp. had treated the animals cruelly, and called on the Austin-based company to immediately require changes from its suppliers. Hormel suspended its buying from the supplier until a "thorough investigation" is completed.
Convenience Store News
The Common Sense Nutrition Disclosure Act aims to protect small businesses from "overly burdensome" costs and penalties and removes the possibility of criminal penalties. The Center for Science in the Public Interest, which is critical of the legislation, says it allows restaurants to manipulate serving sizes to make calorie counts look better.
Marketing Dive
Over the past few years, Mazda has successfully evolved from company-centric to experience-driven marketing, with digital now accounting for more than 40% of its spend while loyalty, search interest, video views and sales are all growing. The foundation of Mazda's customer-centric approach is its targeting approach, which favors psychographics over demographics.
USA Today
Last summer, Denny Marie Post challenged the mid-level managers of the 550-unit Red Robin Gourmet Burgers chain to improve a key quality metric by the end of 2017. If they did, she vowed to get a tattoo of a Red Robin hamburger emblazoned on her arm. Apparently, the challenge was too enticing to turn aside. The managers made the metric almost a year early.