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But Yu Deqing, a council member of the Institute of Interior Design of the Architectural Society of China, said design is a gamechanger only when the product category faces high supply and fierce competition, requiring higher differentiation among products.
But since the late 1990s, Penney struggled with weak sales and heavier competition from discounters and specialty chains that were squeezing its business from both ends. Penney's began flirting with bankruptcy nearly a decade ago when a disastrous reinvention plan spearheaded by then CEO Ron Johnson caused sales to go into free fall. Johnson drastically cut promotions and brought in hip brands that turned off loyal shoppers. As a result, sales dropped from . 3 billion during the fiscal year that ended in early 2012 to billion a year later. Many longtime customers walked away and have not returned. Johnson was fired in April 2013 after just 17 months on the job.
But Peter Koo, a member of the City Council representing Flushing, Queens, that has a large Asian population, urged the mayor to reject the proposal, saying it is "scapegoating success".
But instead, Huawei developed HarmonyOS and it even grew from the No 2 smartphone vendor in the world to No 1 in the second quarter of 2020, Xiang said.
But much of the top tech talent still commutes from out of town. According to a recent Zillow study,?53.4 percent of tech employees working in South Lake Union live outside of Seattle?proper. As tech giants like Amazon, Microsoft and others bring more people to the region, traffic has snarled as a result.