Thursday, 02 March 2017
Hello, dear reader
German fashion start-up Zalando surprised the industry with the acquisition of a street wear retailer and the revelation of extensive expansion plans. Recently merged retailers Ahold Delhaize and Fnac Darty reported encouraging results and consumer goods giant Henkel is continuing its shopping spree. These stories and a lot more are featured in today's issue. Enjoy the read and don't forget to share.
Henkel goes for metal
German consumer goods maker Henkel made a binding offer to acquire Darex Packaging Technologies for US$ 1.05 billion. The US company supplies high-performance sealants and coatings for the metal packaging industry.
The Berlin-based online fashion retailer moves into physical stores with the acquisition of Munich-based street wear retailer Kickz, which runs 15 stores in Germany. The high-flying company also is pushing ahead with a EUR 200 million investment despite a dip in profit and wants to create more than 2,000 jobs.
Jobs at risk
In an attempt to improve efficiency, pharmacy chain Boots, manufacturer Walkers, which is owned by PepsiCo, and bakery chain Greggs are restructuring their operations, putting nearly 1,400 jobs in Britain in jeopardy. Boots will close more than two-thirds of its photo processing laboratories.
In keeping with its fast-paced growth plan, America's leading pet speciality retailer is set to open 12 new stores during this month. Petco operates more than 1,500 outlets across the United States, Mexico and Puerto Rico.
McDonald's adjusts focus
After suffering from years of declining traffic to its restaurants, the fast food giant eyes the US$ 100 billion delivery market as a way to expand. To meet its long-term growth target of 5%, the company also is turning to digital technology.
Layoffs at PepsiCo
The soft drink giant will cut 80 to 100 jobs in Philadelphia as the city's new sugar-sweetened beverage tax to combat rising obesity and diabetes hurts demand for its products. PepsiCo's beverage sales fell 40% in the city.
Lotte grows in Vietnam
The South Korean conglomerate, which has 285 shopping centres in Asian countries including China, Indonesia and South Korea, views Vietnam as one of the fastest growing retail markets in the region and will expand its business there by building a second Hanoi mall.
Africa & Latin America