Hello, dear reader!
There is never a dull moment when it comes to takeover bids. South African retailer Steinhoff is challenging Sainsbury's with its higher offer for Home Retail Group's Argos chain. In its first overseas expansion, US retailer Kroger is reportedly interested to buy a supermarket company in Israel. Over in India, anticipation is growing about Ikea's debut in the country. Enjoy the read and have a great start to the week.
Asia & South Pacific
Consumers want naturalness and clear information
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In consolidation mode After building up their market shares, several Indian startup companies, including Flipkart and Snapdeal, are now cutting costs on the real estate front. E-commerce major Snapdeal is aiming to get 20 million transacting users by 2020.
europe & Middle east
Kroger eyes Israel The US supermarket giant is reportedly in talks to join a bidding group to buy the country's second biggest food retailer Mega. Kroger's entry would be the first by an overseas player in the Israeli supermarket sector.
Steinhoff challenges Sainsbury's In a surprising move, South African furniture retailer Steinhoff made a GBP 1.4 billion counter bid for Britain’s Home Retail Group, taking on Sainsbury’s, which offered GBP 1.3 billion. The British supermarket operator declined to comment, but analysts expect another counter bid.
Delivery and packaging expansions In an effort to widen delivery options, online giant Amazon plans to set up a network of parcel lockers across Europe to enable people to pick up their orders +++ French agrifood company Avril, which recently teamed up with German food company Tönnies, has unveiled its EUR 1.7 million egg packaging plant expansion.
Makro restructures The Metro Group-owned Cash & Carry operator has announced plans to make significant changes to its operations in the Netherlands and will invest EUR 50 million in transforming its 17 existing branches. 600 jobs will be axed over the next three years.
usa & canada
P&G gets agile After offloading weak-performing brands and businesses, the American multinational consumer goods company is now focusing on improving the quality of its remaining products. Its new CEO, David Taylor, thinks the company needs to be more nimble in its decision-making.
Truworths exits Nigeria The South African fashion retailer, which reported strong first half figures driven by its recent buyout of UK-based footwear chain Office, has closed its two remaining stores in Nigeria citing stringent import regulations and rising costs in Africa’s biggest economy.
Doing business without fear The Africa 2016 Forum, which has just concluded in Sharm el Sheikh, called for greater trust and cooperation between government and the private sector. African businesses need to look beyond their borders for partners and opportunities.