Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung

Nigeria stays in the headlines. Last week local retail chain Yudala revealed its ambitious expansion plans and now the world's largest retailer is set to open its first stores under the Walmart banner in Lagos. Meanwhile, famous and well-known European brands are about to grow in Australia and New Zealand. 

asia & australasia
Major brands expand down under   Spanish fashion powerhouse Zara is testing the market in New Zealand through a partnership with the Store +++ British online wine merchant Naked Wines is looking to expand in Australia with bricks-and-mortar stores +++ Tyrells Crisps, England’s biggest maker of up-market chips, is extending its presence in the country with the purchase of Yarra Valley Snack Foods. ▪
Snapdeal raises millions from Alibaba & Co.   The India-based e-commerce startup has found its ally in China. Alibaba has invested US$ 500 million in the company, together with Foxconn and Softbank. Snapdeal has also just rolled out a new service ‘Snapdeal Instant’ to offer delivery within an hour of placing the order in three Indian cities. ▪
Bharti to open 1,000 more stores    In a bid to strengthen its position in 4G market and to provide customers first-hand experience about its service, telecommunication major Bharti Airtel plans to open 1,000 more company-owned stores by December. ▪
Mastercard pays Tesco   Britain’s biggest retailer has been paid US$ 61 million by Mastercard. This settlement is part of a multi-billion dollar lawsuit over credit card fees. Regarding managment, the retailer has announced a shake up in its fresh food department (paywall), with category director Kris Comerford taking charge of the chilled foods operation. ▪
Carrefour grows in Brazil   The French retailer posted a stronger-than-expected first-half operating profit, driven by resilient Brazilian operations. However, earnings from its core French market were hurt by a soft trading environment and the integration of loss-making French operations of Spanish hard-discounter Dia.  ▪
Ikea gets into the woods   The Swedish furniture giant is reportedly buying forests in Romania and Baltics. American business magazine Fortune explains why the retailer needs entire forests and how it dominates the world. Meanwhile in Germany, Ikea has teamed up with ID Logistics (paywall) to open an e-commerce depot in Dortmund. ▪
usa & canada
Fresh & Easy closes stores   The grocery store operator says it will close 14 underperforming stores. Fresh & Easy, which at one time ran more than 200 stores, will operate fewer than 100 stores following the closures. ▪
Best Buy liaises with Amex   The consumer electronics retailer and American Express announced a new e-commerce partnership that enables card holders enrolled in membership rewards to use their points for online purchases at +++ Over in New York, Amex has been sued over misleading investors about the loss of its contract with Costco. ▪
Decisions in the digital age    Athletic retailer Foot Locker has named Pawan Verma as digital head to speed up its technology efforts  +++ Organic supermarket operator Whole Foods adds IT smarts to its leader team and has promoted Jason Buechel from global VP to executive VP and CIO. ▪
Walmart to operate in Lagos   The world's largest retailer already has presence in Nigeria and 11 other African countries through its Massmart subsidiary, now it plans to open Nigeria's first Walmart stores. Governor Akinwunmi Ambode welcomes the move saying the brand would create jobs. ▪
Pick n Pay thinks big   The Cape Town-based supermarket operator plans to employ 5,000 people. The company opened about 100 grocery stores last year despite subdued retail sales and is aiming for "a bit more this year". In the past year, Pick n Pay created 3,000 new jobs (paywall). ▪
Platinum under liquidation   The Cape Town-based design house with 59 stores in shopping centres across South Africa has been placed under liquidation. The influx of global fashion retailers, including Zara and local rivals such as Foschini Group, have reportedly taken its toll on the Platinum Group brands. ▪

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