Hello, dear reader!
Surprise, surprise - delivery options and mobile payment devices are in the headlines again. Tesco takes on Apple Pay with its very own payment system and Kroger expands click-and-collect in the US. In Asia, some major acquisitions and spin-offs are shaping up and in Europe, the food industry is set to fight fakes. Enjoy your Friday read and have a great weekend.
Acquisitions going ahead Chinese textile group Shandong Ruyi will take over French fashion company SMCP, which has more than 1,000 stores in 34 countries. The price tag is said to be US$ 1.5 billion. Finally, an agreement has been reached between Taiwan's Foxconn and Japan's Sharp, with the former paying US$ 3.5 billion - a big discount to its initial offer.
Suning's growth strategy One of China's largest electronics retailer, the Suning Group, plans to create a separate investment arm and is also setting up two investment funds, one focusing on retail infrastructure and the other on emerging industries. The company seeks to raise US$ 7.7 billion within five years.
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Baywa grows with fruit Despite difficulties in the German agricultural sector, Munich-based multi Baywa reported positive figures, helped by its fruit trading activities. Over in the US, the company announced a partnership with Spruce Finance to offer a new financing product for its solar distribution customers.
Ikea supports solar power The Swedish furniture retailer has announced its intention to become the world’s number one retailer for residential solar power and plans to roll out its solar power offering to nine countries until 2017, including the Netherlands, Switzerland and the UK.
usa & canada
Extending delivery options Ohio-based retailer Kroger is reportedly planning to increase its click-and-collect service by adding it to two of its major markets, Houston and Dallas +++ On-demand delivery provider Postmates is offering its consumers a new free delivery subscription service called Postmates Plus Unlimited.
Rewarding loyalty Retail giant Walmart has added a loyalty component to card offerings that provide an extra incentive to make online purchases, while rival Amazon has announced that it has tripled the number of brands available via Amazon Dash buttons for its Prime members.
strange but true
A nose for olive oil Coop Italia has started using an anti-fraud “electronic nose” system to identify genuine – and fake – Italian olive oil through its aromatic digital print. The tool "sniffs" the characteristic volatile substances emitted from each raw material and makes it possible to detect adulteraded food.
Food fraud crackdown Dubbed Operation Opson, Europol and Interpol have seized 10,000 tonnes of fake food between November 2015 and February 2016 in 57 different countries. Among the fakes were painted olives with blue copper sulphate, monkey meat and fertilised sugar. Bon appétit.