Exclusive outtakes from industry leaders
So, what did we learn from executives in the hard-hit luxury and main street retail sectors this week at the Reuters summits?
Heck, even Tiffany’s is attracting hagglers.
Even the Saks CEO is “Staycationing” in the downturn.
Of course, not everyone is cutting back, so Hermes still needs supplies of crocodile hides to make $35,000 handbags. The company’s solution? Breed its own.
The word “bottom” was also bandied about. Executives were hesitant to say the economy had definitely hit bottom. But many did see some leveling off. EBay CEO John Donahoe, for example, said he has seen some stabilization in demand, as did VF Corp CEO Eric Wiseman.
I have built VMware. I am really excited about where we are going to be able to take this company and I am quite engaged in doing that. I am here for the foreseeable future.