Hello, dear reader!
Amazon, Alibaba and Metro are investing in new partnerships. Aggressive price cuts get Aldi under fire in Britain, while underpaid taxes and misleading price tags cause trouble for some very well-known European brands. Developments in mobile payments dominate headlines in the US and in Africa, luxury products find new markets. Enjoy the read and have a great start to the week.
Snapdeal suspends sellers The Indian e-commerce major, which recently introduced new processes to its seller management system, has announced that it has cut off the accounts of 23 sellers on its platform. They were found to be indulging in unfair business practices.
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Celebrations boost spendings China's retail sales grew 11.2% during the week-long Lunar New Year vacation. Meanwhile in India, Valentine's Day is considered to be the new Diwali for e-tailers with a steep spike in the demand for same-day or even next-day deliveries.
Metro buys food supplier With the acquisition of leading premium food supplier Rungis Express, Düsseldorf-based retail group Metro is extending the delivery business of its Cash & Carry wholesale operations. The company said that Rungis will continue operating as an independent company.
Ramifications of price cuts German discounter Aldi has launched a fresh wave of price slashes, however the ad campaign has been called misleading and disingenuous +++ In a bid to prevent shelves being cleared immediately, new budget food store Easyfood will introduce a 10-of-each-item limit.
usa & CanadA
Amazon acquires in Asti In a bid to upgrade its cloud-computing platform, the Seattle-based online behemoth has bought Nice, a software developer for technical computing, headquartered in Asti, Italia, for an undisclosed sum.
Mobile payment made easy Financial service provider Paypal is introducing a new set of tools for retailers named Paypal Commerce, while credit card company Visa has announced an investment stake in mobile payments company Square that indicates it has a strong interest in helping retailers process mobile transactions.
Reshuffles on the top In a move to make the company more agile, department store operator Kohl’s has reportedly eliminated three senior level leadership positions +++ Toy maker Mattel named Lisa McKnight new head for its Barbie business as it seeks to reignite sales of its iconic doll.
Ikea opens in Morocco The Swedish furniture giant has finally been given the green light to open its first store in Morocco after months of uncertainty due to a diplomatic spat over Sweden’s denial to recognise the independence of the disputed Western Sahara territory.
Redefining luxury Africa’s women entrepreneurs and luxury brand builders are turning their attention to the growing global appetite for luxury products. “Afro-luxe” products are reportedly winning a lot of new fans. 22 entrepreneurial women are at the forefront of this development.