Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung
Tuesday, 28 June 2016

Hello, subscribers!
The effects of Britain's shock decision to leave the EU continue to be felt worldwide. In China, big money is being invested. In Belgium, Delhaize decides to leave the pet food business, and over in the US, retailer Meijer expands its pick-up service. These are some of the stories in today’s RetailUpdate. Have a great day, and don’t forget to share.

Chinese funding wins   Alibaba’s finance affiliate, Zhejiang Ant Small & Micro Financial Services Group Co., has gained powerful state backing and is reported to have increased the amount of technology funding it is raising to US$ 3.5 billion +++ In an effort to expand into the world’s second-largest economy, US-based payment app Circle has raised US$ 60 million from Chinese investors. ▪
More bidders for McDonald’s China    In a deal worth about US$ 3 billion, more bidders, including Beijing Tourism Group, are now competing for the fast-food giant’s China restaurants and master franchise, which covers China and Hong Kong +++ Meanwhile, McDonald’s Singapore has added gourmet food to its menu. ▪
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ePayWeb Asia goes virtual    The Hong Kong-based company has taken a 10% stake worth US$ 100 million in up-and-coming AW Virtual Mall, which enables online customers to find products and get prices by taking a photograph.   ▪
Delhaize abandons pet food   In order to focus on selling healthy high-quality food and being reinstated as Belgium’s favourite supermarket, the food retailer will sell its Belgium-based pet food chain, Tom&Co. ▪
Avon still heading to UK   The US cosmetics company will still move its headquarters to the UK, despite the Brexit vote. The relocation should be complete by the end of the year +++ Online retailer Ocado is set to announce its half-year results on Tuesday and will become one of the few major retailers to do so in the wake of Brexit. ▪
Retailers join forces   German Rewe Group and French E.Leclerc have now received the necessary approval from the Polish and Austrian competition authorities to form a new purchasing alliance ▪
USA & canada
Meijer expands curbside service   The US big-box retailer has introduced ‘Meijer Curbside’ to several new locations. Customers can choose from over 80,000 commonly shopped items online and then pick them up without getting out of their vehicle. ▪
Walmart Canada names chief   The Canadian arm of the retail giant will have a new CEO when it promotes Lee Tappenden to the role on August 15. Mr Tappenden will replace Dirk Van den Berghe. ▪
Product experimentation   In a move that is expected to boost India’s fledgling coffee industry, coffee giant Starbucks will soon sell single-origin, premium coffee from Karnataka in the US +++ PepsiCo is planning to revamp its flagship diet colas, and changes include renaming one product and releasing an older formula. ▪
the  brexit effect WORLDWIDE
Problems for SABMiller   The pound’s slump following UK’s vote to leave the European Union has made Anheuser-Busch InBev’s November offer of GBP 44 a share for the multinational brewing company considerably less appealing +++ Britain is historically one of Spain’s largest markets for wine, and The Federación Española del Vino (FEV) says Brexit is bad news for the industry. ▪
Confidence remains Down Under   Despite the Australian dollar plummeting in reaction to China’s weakened currency post Brexit, consumer confidence is still high as Australian’s take heart in the strength of their home economy. ▪
Brexit reaches South Africa   A number of South African companies with links to the UK are feeling the Brexit effect. One includes Steinhoff whose recently acquired 23% stake in Poundland is now worth 10% less. ▪

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