BUSINESS
May 8, 2012 | By Dawn C. Chmielewski, Los Angeles Times
Build-a-Bear Workshop was introducing a line of stuffed animals called smallfrys and wanted to reach moms through Facebook. One video used in the online promotion showed a woman pulling up to a fast-food window. Her young daughter requests "a smallfry. " When her mom suggests a fruit cup or celery sticks, the daughter says, "Mom, order me a curly-haired bunny in a purple sequined bathing suit. " The 45-second smallfrys spot came not from a traditional advertising agency but from Poptent Inc., a "crowdsourced" video production studio that has built a global community of 50,000 writers, directors, cinematographers and animators to create commercials for Build-a-Bear, American Airlines, Dell, Intel, Jaguar, General Mills and others.
BUSINESS
May 4, 2012 | By Jerry Hirsch, Los Angeles Times
Toyota Motor Corp.and Volkswagen are leading a charge of import brands in U.S. auto sales, eating into market-share gains made by the Detroit automakers over the last year. The domestic automakers sold 530,000 vehicles in April, accounting for 44.8% of the market. That share was down from 46.5% in the same month last year, according to Autodata Corp. Asian brands sold 536,000 vehicles in April, accounting for 45.3% of the market. That's up from a share of 44.9% a year earlier.
BUSINESS
May 2, 2012 | By Tiffany Hsu, Los Angeles Times
Collective Brands Inc., which owns footwear brands such as Sperry Top-Sider and Keds as well as the retailer Payless ShoeSource, will be split in two by multiple buyers in a purchase valued at $2 billion, including debt. Wolverine Worldwide, Blum Capital and Golden Gate Capital formed an acquisition company to buy Collective for $21.75 a share. The deal was unanimously approved by Collective's board and is expected to close by early in the fourth quarter. The price represents a 104% premium on Collective's 30-day average stock price before Aug. 24, when the company first announced that it was looking into a strategic and financial shift for its operations.
IMAGE
April 29, 2012 | By Adam Tschorn, Los Angeles Times
Judging from the plethora of eye-catching eyewear that's been getting face time over the last few years - be it on the European ready-to-wear runways or in the adjoining office cubicle - it's clear that glasses have gone from nerd necessity to chic accessory. It's a shift reflected in the current look-at-me trends - retro, vintage-inspired frames, chunky tortoise shells and geometric shapes that attract rather than deflect attention - and reinforced by the laundry list of fashion-focused brands with a presence in the eyewear arena.
BUSINESS
April 28, 2012 | By Andrea Chang, Los Angeles Times
Samsung Electronics Co. became the world's largest cellphone brand for the first time, overtaking longtime market leader Nokia Corp. In the smartphone segment, Samsung remained in second place behind Apple Inc., according to market research firm IHS ISuppli. The South Korean electronics giant shipped 92 million cellphones worldwide in the first quarter, compared with 83 million for Nokia. While Samsung's shipments declined 13% from the fourth quarter of 2011, Nokia's dropped 27%. In the smartphone segment, Apple shipped 35 million units in the first quarter, compared with 32 million for Samsung.
BUSINESS
April 24, 2012 | By Tiffany Hsu, Los Angeles Times
Swiss food and nutrition giant Nestle plans to shell out $11.9 billion to buy Pfizer's nutrition unit, whose products include baby formula brands SMA and Promil. The division is expected to reel in $2.4 billion in sales this year and gets 85% of its revenue from emerging markets, whose large and rapidly growing populations are a key target for Nestle. Pfizer has the fifth-largest infant formula business in the world, according to research group Euromonitor International, ranked behind Nestle, Mead-Johnson Nutrition Co., Groupe Danone and Abbott Laboratories, respectively.