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ZALORA, a nearly five-year old fashion destination, has robust geographical reach with its presence in 11 countries, including Singapore, Indonesia, Malaysia & Brunei, the Philippines, Hong Kong and Taiwan. Moreover, ZALORA offers several lucrative benefits to customers, like super fast deliveries and free returns up to 100 days, which enhance their experience and attract more traffic. Thus, we believe that this collaboration is likely to benefit Abercrombie substantially as it will have an access to over 600 million online customers of ZALORA, given the latters solid network and popularity. However, a partnership like this is not new for the company. Incidentally, Abercrombie entered into a wholesale agreement with Europes biggest online fashion destination Zalando, in Aug 2016. Following the deal, Zalando offers merchandise of all Abercrombie brands through its web stores across 15 European markets. Notably, partnership with this Germany-based e-tailer helped Abercrombie gain access to Zalandos over 18 million active patrons, thus augmenting Abercrombies top line. Abercrombie is undertaking all possible steps to enhance its online business, which seems to be capturing more significance with each passing day. Evidently, though Abercrombies net sales declined about 7% to $1,036.4 million in the fourth quarter, direct-to-consumer and omni-channel business contributed 31% to the top line. Hence, we believe that alliance with ZALORA, and similar ventures should help Abercrombie cushion its top line amid a challenging and competitive retail scenario.

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FLAG-WAVING SUPPORTERS On the eve of the vote, Erdogan held four separate rallies in Istanbul, urging supporters to turn out in large numbers. "April 16 will be a turning point for Turkey's political history... Every vote you cast tomorrow will be a cornerstone of our revival," he told a crowd of flag-waving supporters. "There are only hours left now. Call all your friends, family members, acquaintances, and head to the polls," he said. Erdogan and the AK Party, led by Prime Minister Binali Yildirim, have enjoyed a disproportionate share of media coverage in the buildup to the vote, overshadowing the secular main opposition Republican People's Party (CHP) and pro-Kurdish People's Democratic Party (HDP). Erdogan has sought to ridicule CHP leader Kemal Kilicdaroglu, playing videos of his gaffes during rallies, and has associated the "No" vote with support for terrorism. Kilicdaroglu has accused Erdogan of seeking a "one-man regime", and said the proposed changes would put the country in danger. "This is not about right or left...