South African tycoon Christo Wiese sees parallels between his home country and the UK market as he looks for investment in Britain. Chinese electronics retailer Suning and Indonesia's Alfamart are busy planning new stores, while European supermarket chains ponder whether to go online or stay offline. Enjoy the read and have a great start to the week.
Milk crisis debate The fall in milk prices over the past years has led to protests all over Europe. An extraordinary meeting of the EU Agriculture Council today is expected to address the industry’s demands. About 4,000 farmers will gather along with hundreds of tractors as ministers debate potential agriculture support measures.
Sears Hometown closes stores The home appliance retailer posted declining profits and revenues and plans to close 40-50 underperforming stores by the end of the year, on top of 63 underperforming locations closed in the first half of 2015.
Lindt opens in Sandton City Lindt & Sprüngli launched its first boutique in SA last week. The Swiss chocolatier already has retail partners such as Woolworths, Clicks and Pick n Pay in the country. Beside South Africa, the company sees Brazil, Russia and Japan as attractive markets for expansion and acquisitions.
Christo Wiese eyes UK supermarkets Citing parallels between Great Britain and his home country, South African businessman and billionaire Christo Wiese announced that his investment firm, Brait, could be making its next venture in the UK’s supermarket sector. Morrisons’ share price jumped following renewed takeover rumours.