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Retail Update - powered by LebensmittelZeitung

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Arla in Europe and Edcon in Africa announce job cuts, while PepperTap in Asia shuts down its operations in some cities completely. Vietnam is experiencing an upsurge and Foodpanda India is the first in its industry to nail down a cooperation with McDonald's. Find out about these stories and more. Enjoy.

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Asia
Paytm to hire thousands   India's largest mobile payments platform announced to hire 3,000 staff for its payments bank, which is due to start by the end of the financial year. ▪
Burgers on wheels   The Indian arm of Berlin-headquartered online food ordering platform Foodpanda has succeeded in being the first in its line of business to strike a partnership with McDonald's. +++ Grocery delivery app PepperTap is shutting down operations in ten of the 18 locations it used to operate in in India.   ▪
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Booming Vietnam   While January retail sales surge by 11% in the biggest increase in five years, a strong period of growth is forecasted for the consumer electronics market in the country. ▪
europe
Less staff, less money   As part of major global structural changes, dairy cooperative Arla is overhauling its management team and cutting around 500 jobs +++ Due to high production in the UK and Europe, milk prices remain down (paywall) year on year +++ The UK supermarket price wars have led to grocery prices falling at 'record pace' in the country.   ▪
Ban the bin   France has become the first country in the world to introduce a food waste ban on its supermarkets by law. On a smaller scale, but still as the first supermarket in the UK, Asda has introduced a ‘wonky vegetable’ box, 30 % cheaper than its prettier, flawless veggie counterparts. ▪
Parting with long-standing execs   Asda has hired the founder of international shopper marketing agency Saatchi & Saatchi X Andy Murray as its new CCO, replacing Barry Williams +++ Agent Provocateur's CEO Garry Hogarth will be leaving the company after ten years in the role with his replacement still to be announced.  ▪
USA
Hasbro profits from the force   Mainly Star Wars memorabilia is to be credited for the toy retailer's biggest jump in quarterly revenue in nearly five years. ▪
Selling the home base   In an attempt to reduce debt and costs, department store operator J.C. Penney is pursuing a potential sale and partial leaseback of its headquarters in Texas. ▪
Africa
Sweet deal, bitter pill   In a deal worth around US$ 253 million, largest shareholder Associated British Foods intends to buy the remaining stake in Africa's top sugar producer South Africa's Illovo Sugar +++ Johannesburg-based retailer Edcon announced job cuts at its head office as part of its turnaround strategy. The company did not reveal numbers but denied media reports that claimed the cuts to be as high as two-thirds of the 3,000 head office staff. ▪
Monitoring supermarkets   The government of Uganda is considering to bring in a regulation demanding supermarkets to submit annual financial and audit reports to the trade ministry.  ▪
Moving online   Kenyan supermarket chain Tuskys is testing an online shopping model to recreate virtual shops for its 52 stores. ▪

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