POLO RALPH LAUREN: said it will stop selling its Polo jeans in the U.S. as of next spring to allow the company to refashion its denim business worldwide, according to news reports. The company will continue to distribute Polo Jeans overseas and replace the U.S. Polo Jeans business with a new denim collection the Lauren women’s line and men’s Polo Ralph Lauren. The decision comes after Polo Ralph Lauren earlier this year bought back the Polo Jeans license for $355 million from Jones Apparel Group Inc.
WALGREEN CO.: Deerfield, IL has bought drugstore chain Happy Harry’s, based in Newark, DE, with 76 stores in Delaware, Pennsylvania, Maryland and New Jersey. Terms were not disclosed; the deal is expected to close this summer. The purchase bolsters Walgreens’ limited presence in the Northeast. The chain has grown quickly the last few years, but mostly through construction of new stores, not acquisition: Walgreens has opened more than 3,800 stores since 1996 but bought fewer than 30 stores.
VERIZON WIRELESS: has named Mark Lowenstein VP-market strategy and segmentation, effective June 5. In the newly created position, Lowenstein will be responsible for directing the company’s strategy to serving its business and consumer markets. Prior to joining Verizon, Lowenstein was managing director of Mobile Ecosystem, a company he formed to provide counseling to wireless industry executives.
STEVE & BARRY’S: a lifestyle apparel chain, has inked a licensing deal with the Federation Internationale de Football Association (FIFA) to produce 2006 FIFA World Cup licensed T-shirts for men, women and children. The collection includes graphic T-shirts with logos of participating countries, including USA, Mexico, Italy, Germany, France and Brazil. The World Cup T-shirts are in stores and sell for $9.98. The 2006 FIFA World Cup takes place June 9 to July 9 in Germany.
Network
