Hello and good day!
Two billion-dollar deals are dominating the retail headlines today - as predicted, Metro finally confirmed Hudson's Bay to be the new owner of its department store chain Kaufhof and Target's retail pharmacies and in-store clinics operations change hands to CVS Health. Enjoy reading about those majors and other updates!
Asia & Australia
Snapdeal strengthens mobile commerce The Indian e-retailer continues its shopping spree and acquires Letsgomo Labs, which works on end-to-end mobility solutions, for an undisclosed sum.
Japanese brands target Chinese market The fast-expanding Chinese online market keeps attracting Japanese retailers. Home products manufacturer Iris Ohyama and Panasonic invest heavily.
Woolworths changes to in-house marketing The Australian grocer has dumped agency Torch Media after 10 years in favour of in-house marketing through a new business, Woolworths Media Hub.
Target sells operations to CVS Health American retailer and health care company CVS Health has sealed the USD 1.9 billion deal to acquire and operate Target's retail pharmacies and in-store clinics. In an interview on a Target-own platform, Chairman and CEO Brian Cornell explains the deal in depth.
Unions claim A&P is for sale According to a statement issued by labour unions representing workers at A&P and its banner companies, the retailer is actively seeking buyers and has received interest from several potential purchasers. However, the company would not confirm said plans.
Kenyan online platform flourishes Kaymu, an online shopping platform launched in Kenya eight months ago, has been growing its website traffic constantly since and is expected to 'take e-commerce in Kenya to the next level'.