Hello and good day!
Just in time for the World Environment Day, which is today, Ikea has announced a number of initiatives to protect nature and plans to spend EUR 1 billion. Over in the UK, Aldi highlights the importance of charity partnerships and in the US, Pepsi launches fountain soda. Read about these inspiring ideas and a lot more in today's issue.
asia & australasia
Target lays off Indian workers The corporate restructuring that has led the US retailer to cut 17,600 Canadian jobs has reportedly also hit Target’s Indian operation, where the company has laid off 180 Indian employees and closed 125 open positions this week.
C-star is China's most international retail show
The first edition C-star was a huge success. On a net exhibition space of 5000 square meters, C-star featured 162 exhibitors from 23 countries. Despite being held for the first time, 5721 visitors from 59 countries and regions came to visit the show, with 18% coming from overseas. This makes C-star China's most international retail trade show.
Join us next year for another exciting edition of C-star!
Lenta expects to grow For the first quarter, the Russian hypermarket chain saw sales surge by 38% and says it expects full-year growth of 34%-38%. However, CEO Jan Dunning has warned that the Russian retail market continues to face tough conditions.
Ahold names new president Jennifer Carr-Smith was named president and general manager of Peapod by Ahold USA. She succeeds Andrew Parkinson, one of the co-founders of the grocery shopping and delivery service.
Pinterest pins and profit plummets Neiman Marcus Group customers will be able to purchase items through the new “Buyable Pins” e-commerce service across Pinterest +++ Profit fell in a difficult first quarter of fiscal 2015 for clothing retailer Lands’ End, which also saw sales decline.
Pepsi launches fountain soda Soft drink giant Pepsico is introducing a line of “craft” fountain sodas called “Stubborn Soda” with flavours like “agave vanilla cream”. Meanwhile, competitor Coca Cola has kicked off their second TV ad under its ‘one brand’ marketing strategy.
Cisco reshuffles leader team Technology company Cisco Systems is reshaping its top management, by choosing a smaller leadership team that excludes three executives.
food for thought
Walmart tops Fortune list Retail behemoth Walmart has kept its hold on the top ranking of the Fortune 500 annual list of the largest US companies, while Apple was the most profitable and Facebook the most upward-bound.
China's online lending takes off Peer-to-peer lending in China will almost double this year to $US 60 billion versus $US 11.7 billion in the US, the second-largest market, according to Liberum Capital. In peer-to-peer lending, companies use the Internet to quickly match borrowers and lenders at better rates than banks.