LL Bean boycotted after heiress donated to Trump campaign
LL Bean heiress Linda Bean has landed the Maine-based retailer on a prominent boycott list after contributing $55,000 more than allowed to President-elect Donald Trump's campaign.
In response to her $60,000 donation, the Grab Your Wallet campaign, which launched in October in response to Trump’s comments about women, encouraged consumers to avoid the retailer.
President-elect Trump responded to the controversy: “Thank you to Linda Bean of LL Bean for your courage and support. People will support you even more now. Buy LL Bean.”
Linda Bean is the granddaughter of founder Leon Leonwood Bean. She has been donating to the Republican Party for decades, including prudential hopeful Rand Paul in the 2016 election, and once drew controversy for comparing president Obama to Hitler.
LL Bean started in 1912 with just one product—the iconic LL Bean boot (originally called the Maine Hunting Shoe). It had revenues of $1.61 billion in 2014. Take a look at our family portrait here.
Samsung heir quizzed on bribery allegations
Lee Jae-yong, vice chairman and heir apparent of the Samsung group, has been questioned this week in Seoul as part of South Korea’s political corruption scandal, according to the special prosecutors’ office.
Samsung has been accused of giving donations to several non-profit foundations operated by Choi Soon-sil, a confidante of President Park Geun-hye.
"I deeply apologise to the people for failing to show a positive image because of this incident," Mr Lee told reporters upon arrival.
Prosecutors are trying to discover whether Samsung bribed President Park Geun-Hye to win state approval for a controversial 2015 merger.
Third-generation Samsung was founded by Lee Byung-chul in 1938, and has made the Lee family one of the wealthiest in the world, with today’s family members worth a reported $12.6 billion (€9.3 billion).
Samsung Electronics had revenues of $170 billion in 2015.
Hero Motocorp sales down one-third in December
Indian motorcycle manufacturer Hero MotoCorp, owned by the Munjal family, launched into the Argentinian market with the global launch of its 125 cc bike 'New Glamour'.
As part of its aggressive global expansion plans, the company roped in former Argentine soccer star Diego Simone, the current coach of Spanish club Atletico de Madrid, as its brand ambassador
Hero MotoCorp managing director and chief executive Pawan Munjal said: "Our first global launch of a new motorcycle here is reflective of the importance of Argentina and Latin America for us on our global map."
Elsewhere, India’s largest two-wheeler manufacturer reported a 34% decline in sales in December. Hero Motocorp posted revenues of $3.6 billion in 2013.