Nordstrom to acquire Chicago-based Trunk Club

Trunk Club, a five-year-old Chicago-based e-commerce company, will be acquired by Nordstrom for an undisclosed amount in a deal linking two retailers with a shared stake in combining fashion with careful customer service.

Trunk Club provides personal styling, sending men trunks of clothes and accessories they can try on and decide to buy from home. CEO Brian Spaly said nothing will change for Trunk Club on the surface: Its headquarters will remain in Chicago, he and the team will stay on, and the mission to make it easier for guys to find the best clothes will continue to guide them.

“Chicago is a warm and welcoming city and it has a rich tradition of outfitting the nation,” Spaly said. “We are super pumped to continue that tradition and fill in for some of the holes in our industry.”

Read more →

How support, networking and communication give women in tech a lift

Even a nudge can make all the difference to a fledgling entrepreneur. That was clear Wednesday evening as panelists addressed questions about entrepreneurship at LiftUp&UpLift, an event targeted toward women in technology, at the GeneXus USA office in Chicago.

The more experienced panelists — GeneXus co-founder and CTO Veronica Buitron, ProofX CEO Dima Elissa and Dough CEO Kristi Ross — answered most of the questions while Francesca Kress, founder and CEO of fashion app Tippity, listened and observed. Deep into the conversation, Elissa extended an arm to Kress, encouraging her to get involved.

Kress, 26, then gave the audience advice about networking.

“You only need a little experience to help someone below you,” Kress said.

Read more →

Techweek ombudswoman cites need for CEO, active approach to inclusion

Techweek needs a strong leadership team, including a CEO, and should take more of an active approach to inclusion, according to a report from the organization’s new ombudswoman, Kelly Stickel.

Techweek named Stickel ombudswoman on June 20 after charges of sexism this year in the wake of a controversial Techweek event invitation that included images of women in flirty poses. “We have seen the need for an independent, third party ombudsperson to represent the interests of the community,” Techweek says on its website.

Stickel, co-founder, president and global community builder at Remodista, outlined several areas in which Techweek needs improvement. These included personnel changes, such as hiring a CEO, expanding the executive director role to COO and hiring community managers in each city where Techweek hosts a conference. That team, she said, needs a better understanding of inclusion in order to guide its young employees.

Read more →

Ramadan at work: skipping lunch, no coffee breaks and lots of curious questions

These days, Jamal Afridi eats dinner around 8:30 p.m., well after his workday ends and more than 16 hours since he last had food or drink. Most nights, he cooks for himself or picks up Chipotle on his way home from work at 1871 as a product developer at online brokerage MortgageHippo.

Afridi is one of the estimated 400,000 Chicago-area Muslims observing Ramadan, the holy month during which many Muslims abstain from food, drink and sex during daylight hours.

While fasting offers personal and spiritual benefits, the workday presents unique hurdles: The need to schedule business lunches when one can’t eat, low energy without coffee breaks and curious questions — if not outright disbelief — from co-workers.

The ability to work from home a couple days a week gives Afridi respite, especially given that the fast, set by the Islamic calendar, falls in a month of long, warm days this year.

Read more →

Newell Rubbermaid to acquire Chicago water bottle maker Ignite for $308 million

Chicago-based Ignite USA LLC, a maker of travel mugs and water bottles, will be acquired by Newell Rubbermaid for $308 million.

Ignite, founded in 1999, sells its products under two brands: Avex and Contigo, whose net sales are predicted to reach $125 million this year. In 2010, Ignite introduced Autoseal technology, a proprietary closing apparatus that prevents spills.

The deal was announced Tuesday by Greenwich, Conn.-based North Castle Partners, a private equity firm that counts Ignite among its portfolio companies. Ignite has grown 35 percent year over year for the past four years, officials said.

Read more →

Innovation and the importance of ‘fail fast and fail cheap’

Innovation has been a major factor in the growth of productivity in the U.S. over the past 50 years, and for businesses and countries the world over it continues to grow in importance.

So says Andrew Taylor, partner and managing director at Boston Consulting Group. Taylor, who heads up the firm’s innovation strategy practice, gave the keynote address late last week at the 2014 Product Development and Management Association-UICInnovation Doctoral Consortium at the UIC Forum.

The weekend-long conference brought together academics, industry thought leaders and doctoral students from around the world. The goal: to shine light on the importance of fostering innovation.

Read more →

Why Chicago-based PointDrive and @properties are teaming up

Communication is the key to any successful sales pitch, and Chicago-based PointDrive thinks its tool does it better than email. Chicago-based @properties also likes what it sees: PointDrive on Wednesday announced a partnership with that company, Illinois’ largest independent real estate brokerage.

Kevin Van Eck, VP of training and brokerage services at @properties, said all of the company’s 1,500 agents eventually will have access to PointDrive, a sales-oriented application that allows users to share presentations without email attachments and helps users know when to follow up with clients.

“Clients are going to see the benefit in being able to see the information in a more easy and concise way,” Van Eck said.

Read more →

How a first-time entrepreneur is creating support for solo founders

Conventional wisdom suggests that founding groups ought to be more successful than entrepreneurs who go it alone. After all, what could be better than building a team with diverse skills, experiences and perspectives?

How about not giving up control?

First-time entrepreneur Russ Martin is the sole founder of Feature Zen, where he’s building a tool that will help corporations send out requests for proposals from software companies. He is also the creator of Solo Founders Unite, a Meetup group that will get together for the first time on Tuesday. He said he hopes the group will provide the support co-founders provide without the drama.

 

Read more →