A major deal is shaping up in the fashion world with American powerhouse Michael Kors is in talks to buy Italian glamour label Versace. Coffee giant Starbucks is restructuring its management team, and the CEO of Sears reveals a rescue plan to keep the department store chain afloat. Across the Atlantic, some innovative store concepts premiered in Belgium and the Netherlands.




Tuesday, 25 September 2018





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A major deal is shaping up in the fashion world with American powerhouse Michael Kors is in talks to buy Italian glamour label Versace. Coffee giant Starbucks is restructuring its management team, and the CEO of Sears reveals a rescue plan to keep the department store chain afloat. Across the Atlantic, some innovative store concepts premiered in Belgium and the Netherlands.




Europe


Store debuts ▪ Ahold Delhaize has unveiled a “new concept” for its Delhaize supermarket banner in Belgium, offering fresh ready-to-eat meals and a range of digital services. Its Dutch unit, Albert Heijn, opened its first checkout-free stores in Amsterdam with a super-fast shopping experience for busy customers.



Gourmet acquisition ▪ Irish upmarket grocer Donnybrook Fair has been acquired by the Musgrave group, owners of the supermarket chain SuperValu, in a deal worth up to EUR 25 million. It is understood that the agreement includes Musgrave taking on about EUR 10 million of existing debt in the business.




US & Canada


Designer deal ▪ US company Michael Kors is close to an agreement to acquire Gianni Versace SpA, in a deal that would value the Italian luxury label at about USD 2 billion. The deal would allow the fashion luxury group, famous for its leather handbags, to build a stronger holding business with which to rival French conglomerates LVMH and Kering.



Restructuring efforts ▪ Coffee chain giant Starbucks is about to make "significant changes" that could include corporate layoffs. Meanwhile, Sears CEO Eddie Lampert has come up with a rescue plan to save the beleaguered company from bankruptcy. Analysts reckon that without him the department store chain would have long gone under.



Digital shopping ▪ Messaging app Snapchat has partnered with Amazon and is testing a visual way to search for products on the latter's platform. The new function will allow users to point Snapchat's camera at an item or barcode to purchase from the online giant.



Expansion plans ▪ Canadian conglomerate Empire, the parent company of retailer Sobeys, will buy Ottawa-based fresh grocer Farm Boy for CAD 800 million from Berkshire Partners. Following a successful launch in Ontario, wholesaler Costco is extending its two-day delivery service across the province.




Latin America & Australasia


Entering Ecuador ▪ Mexican retailer Femsa, which controls the world's largest Coca-Cola bottler and owns the Oxxo convenience stores, is set to acquire Ecuadorean drugstore chain Corporacion GPF, which operates more than 620 locations in the South American country.



Beauty offer ▪ Brazilian fragrance company O Boticário, which has more than 4,000 retail outlets across the globe, has opened its first Amphora concept store in Dubai. O Boticário is regarded as the largest cosmetic franchise in the world with an estimated USD 4 billion in revenue.



Stepping down ▪ The chairman of Australian Retail Food Group has retired and two new directors have joined the board of the embattled franchisor, owner of speciality coffeehouse chain Gloria Jeans, which has opened more than 1,000 coffee houses across 39 markets worldwide, including over 460 in Australia




What to watch


Holiday trends ▪ Expect to see more in-store events, more opportunities for shoppers to demo new products and other creative experiences that shoppers can only enjoy by visiting a store location, predicts an American market researcher for the upcoming festive season.



Cyber fine ▪ Britain’s finance watchdog is considering fining the banking arm of Tesco more than GBP 30 million over a 2016 cyber-attack. The supermarket leader is contesting the proposed penalty and is in active negotiations with authorities about it.