In the UK, Morrisons follows Lidl’s lead and increases wages. In New Zealand, the countries largest listed retailer, The Warehouse, buys out its financial services joint partner. And over in the US, Costco plans expansion. All these stories and more are in today’s RetailUpdate — oh, and if you enjoy this edition, please share it. Have a great day!
asia & New Zealand
Register now for etailment 2015 - The Business Event for Retail
International trade experts from Alibaba, Zalando, mytheresa.com, OTTO Group Russia, GALERIA Kaufhof, notebooksbilliger.de, redcoon, ROSE Bikes etc. will share their knowledge of strategies and new markets. One of the highlights is the e-Stars 2015 Award Ceremony. Find out more at etailment 2015 on 11th and 12th November 2015 in Frankfurt/Germany and re-invent retail.
Tag Heuer partners with JD.com The Swiss luxury watchmaker has partnered with JD.com to open its first online store in China. The store will target China’s increasingly sophisticated online consumers and will feature cutting-edge designs across several price points.
Target declares price wars Leading up to the prime holiday season, the US retailer has announced a new price-match policy. Starting today, Target will match the prices of 29 major retailers — in stores and for online orders.
Ebay appoints former Gap CEO The e-commerce company has appointed former president and CEO of Gap, Paul Pressler, to their board. He will serve on the Audit Committee as well as the Corporate Governance and Nominating Committee.
Spar opens in Lagos The Dutch retail chain, which boasts the largest chain of supermarkets in Nigeria, has launched a new store at the Murtala Muhammed Airport 2 in Lagos. The store is designed to cater to passengers and employees working in and around the airport.
OLX tightens security In an effort to combat fraud, the Kenya-based online shopping platform OLX has announced a new verification system that will require users to provide some details for identification. The system will not, however, impede free access for buyers and sellers.