Hello, dear reader!
A number of management changes makes retail headlines, with major announcements from Walmart and Sears. Over in Europe, Lidl names a new CEO in Poland, Carlsberg's UK-boss leaves and Amazon is on a hiring spree for Christmas. Meanwhile in India, the festive season has kicked off. Enjoy your Monday read and have a great start to the week.
asia & australia
Coolpad manufactures in India Chinese handset-maker Coolpad will invest over US$ 300 million and partner with Videocon to manufacture smartphones in India. Last week, its new smartphone, Coolpad Note 3, was launched.
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Marks & Spencer leaves Eastern Europe Driven in part by heightened tensions between the West and Russia, the British retailer will close 12 stores across Croatia, Bulgaria, Montenegro, Serbia and Slovenia. M&S has also cooled off its possible expansion to Australia, however, the company is set to boosts its presence in China with the opening of a new flagship in Beijing.
Amazon on the lookout in Britain The online giant prepares for a bumper Christmas trading period by hiring 19,000 people in seasonal roles within its fulfilment and customer service centres. Amazon has created 700 permanent roles in its UK fulfilment centres so far this year.
usa & Latin America
Walmart shuffles management ranks Charles Holley is stepping down as CFO at the world’s largest retailer and will be replaced by finance executive Brett Biggs. Walmart has also filled its empty chief merchant spot by appointing Steve Bratspies in this key position and named other executives to key leadership roles within the organisation.
Sears strengthens its home connection The US retailer has made a key acquisition to bolster its connected home effort and named former Best Buy executive Sean Skelley as a new executive to lead its home service division.
Argentine company goes public in US Bioceres SA, an agriculture technology company based in Rosario and inventor of a soybean resistant to drought, is poised to be the first Argentine initial public offering on the New York Stock Exchange in 15 months after receiving local regulatory approval for the seed this week.
Trends to watch
Online sales keep growing Research from analytics platform provider Custora shows that e-commerce revenue grew a healthy 11.8% year-over-year in third quarter 2015. E-commerce transactions rose an almost identical 11.6%.
Europeans are innovative Market research company Euromonitor picked out some of the top trends in novel retail concepts from around the world and several European food companies came out top.
Millenials do not like credit cards According to new analysis from PayPal and Koski Research, 63% of millennials do not have a credit card, but are now the fastest growing segment of Paypal Credit shoppers, rising to 33% of the total in 2015 up from 28% in 2013.