There is never a dull moment in the retail industry: A few days ago there was speculation that Tesco might not be able to sell its South Korean unit, now three bidders compete for it. Tomorrow it might be a done deal. Meanwhile, Alibaba tells its staff to ignore the share collapse and some big brands are set to care for the environment. Find out about their ideas and enjoy your Wednesday's read.
Japanese partnerships and speedy deliveries Tokyo-based online retailer Rakuten has launched Rakubin, a delivery service which promises to deliver goods in as little as 20 minutes +++ Casualwear chain Uniqlo will launch a new clothing line developed with French designer Christophe Lemaire.
Lowe's invests in India The US home improvement retailer is setting up its first innovation lab outside the US, in Bengaluru. Indian start-ups will be shortlisted to participate in an accelerator programme. The retailer is reportedly looking at hiring more people.
Aldi complains about Morrisons The British supermarket operator has been ordered by the advertising watchdog to clarify the way it compares prices under its scheme, following a complaint from rival Aldi. The German discounter, on the other hand, is under fire from the animal welfare agency in Australia for continuing to sell cage eggs.
usa & canada
Best Buy beats expectations The biggest US electronics retailer posted a 12% rise in earnings in quarterly sales, benefitting from a surge in demand for big-screen TVs and appliances. Some industry insiders, however, think it might be the retailer’s close relationship with Apple that is giving more people a reason to set foot into its stores.
H&M supports recycling The Swedish fashion powerhouse is offering an annual prize of EUR 1 million to those who come up with innovative solutions to waste and pollution. The move is part of the company's effort to operate more ethically; however, critics say it's no solution to fast fashion.
Coke reaches conservation goal The beverage giant and its bottling partners take the issue of water insecurity seriously and expect to be replenishing 100% of the water used in their factories by the end of 2015, reaching a longstanding conservation goal five years ahead of schedule.