Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung

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Three is a trend - after news of Amazon and Ikea exploring and investing in the Indian market, Walmart is the next global player wishing to seize the market there. In the UK, a new competitor in the sector of online groceries, Amazon Fresh, will be adding to the challenging conditions the grocers' are facing.

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asia
Toshiba bloated its earnings   In what seems to be one of Japan's largest corporate accounting scandals, the industrial giant overstated its earnings by more than US$ 1.2 billion over the last seven years. Its Chinese competitor in the market for telecommunication equipment, Huawei, reports a 30% revenue growth in the first half of 2015. ▪
Walmart to sell apparel in India   Following in the footsteps of Amazon and Ikea, which, as reported yesterday, are venturing in the Indian market, Walmart is eyeing the sale of fashion products directly to Indian consumers on third-party e-commerce sites. ▪
Alibaba and Unilever enter deal   The Chinese e-commerce giant has entered a memorandum of understanding with consumer goods company Unilever. Alibaba’s logistics arm Cainiao is establishing a pick-up option in FamilyMart convenience stores (paywall) in Shanghai. ▪
europe
Online grocery competitor on way to UK   Adding to the competition for British supermarkets, Amazon Fresh will be launching in the UK, reportedly this year. ▪
Sainsbury's renovates stores   As the British supermarkets are trying to defend their position against the German discounters, the third-largest chain of supermarkets is planning to revamp six of its hypermarkets +++ Competitor Morrisons has won the award Supermarket of the Year at the International Wine Challenge for the first time. ▪
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MADE.com pushes European expansion   The upmarket e-tailer aims to accelerate its growth strategy in its existing furniture markets across Western Europe with a newly raised US$ 60 million cash injection. ▪
usa & canada
Retailers react on possible data breach   In the wake of a suspected data breach at PNI Digital Media, several more retail chains, including Costco and Sam's Club, have temporarily taken down their online printing stores following CVS and Walmart Canada who had been taking a similar action the week before. ▪
Jet.com goes online   As indicated yesterday, today is the day that new Amazon and Costco competitor Jet launches its website. The e-commerce newcomer is in talks for a US$ 3 billion valuation. ▪
Gap enters partnerships   The struggling apparel retailer is testing partnerships with online beauty subscription service Birchbox and Virgin Hotels Chicago.  ▪
developments to watch
Mexican afterlife for US brands   Mexican investors who look past the mustiness and see profits grant ailing US store brands an afterlife in Mexico. ▪
UK National Living Wage threatens jobs   The new National Living Wage is putting 24,000 independent stores and 80,000 jobs potentially at risk, an analysis by the Association of Convenience Stores has claimed.  ▪
More drug tests at work   Workplace drug testing is an industry on the rise in Australia as it accelerates its growth by about 20% annually, especially in white and ''grey'' collar situations. ▪

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