How Important Is Retail to Apple’s Success?

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Oct. 28 (Bloomberg) -- Gilbert Harrison, chairman & founder at Financo, discusses the retail expertise Angela Ahrendts brings to Apple and Twitter’s growing role in retail sales. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

Retail perspective, they made a big, splashy hire as ahead of retail operations.

Is she the one that can get growth back into apple?

She is a great retail and apparel executive.

I first met her 20 years ago when she was a liz claiborne.

Then she took over as ceo at berg very.

She did a remarkable job in terms of intent viewing their growth.

I think it is an interesting, unique choice.

Le is there a good match?

Berg very continues to communicate the shareholders and employees.

Every time she makes any kind of announcement, she goes to every store, every employee can take a look at their iphone, computer on their screen.

She knows that.

She has made her very a great place to shop.

What is the role of retail for apple?

We tend to think of it as a neat product and buy it because it is in the product.

Apel credit it ron johnson with everything done at apple am a but he had the product.

And retail it is merchandise, merchandise, merchandise.

The boom and upscale retail, the frenzy in new york that you mentioned in select parts of europe, do you look at that as a permanent event?

Is this a sea change?

There are slowdowns.

You will see peaks and valleys.

Everyone is aspiring to buy something better.

Whether it is aspirational retail or full luxury, the money is out there.

You look at meryl streep.

The whole aspirational thing that is the backdrop of the movie.

It is like it is on steroids.

Look at the armani show last week.

I was in europe.

Close to $9 million to put on that show.

It was picked back you where.

My friends who were there said it is unbelievable.

A true luxury artist.

What is the connection between luxury and retail?

If you take a look at what facebook is doing in terms of trying to push retail, i think twitter will do the same thing.

When people e-mail each other through twitter and give the different vibes, it can make or break a product.

Where is inventory?

I go into stores and they do not have anything?

I think retailers are being cautious.

There is much more business going online every day.

We have clients where sales are going up to 15% of total sales.

What is the designer right now with the greatest momentum in new york?

Tom ford, how is he doing these days?

Doing a very good job.

The problem is the business is focused at the real high-end.

In order to- that is christina.

Yeah, right.

Take a look at what michael kors has done.

It is incredible.

The bulk of his close our affordable prices.

It is tremendous.

Nice try, tom.

Now you are faking it.

Calling, out completely.

As the government shutdown?

Morgan stanley's chief u.s. economist will come on to join us.

This is rumored -- bloomberg "surveillance." ?

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