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

Hello, dear reader!
More billion-dollar deals are in process with a takeover in the Canadian pharma industry and Samsonite's acquisition of luxury luggage maker Tumi. British department store operator BHS threatens to shut nearly half of its stores, while European lifestyle icons Ikea and Zara are about to set benchmarks in the United States. Enjoy the read and have a great weekend. 


asia & south pacific
Samsonite aims high   Hong Kong-listed international lugguage manufacturer Samsonite has agreed to buy New Jersey-based high-end luggage maker Tumi for about US$ 1.8 billion, seeking to expand its presence in the luxury bags market. ▪
Food service decisions   New Zealand fast food operator Restaurant Brands is buying the largest KFC franchisee in the Australian region of New South Wales for US$ 90 million and McThai, national franchise-holder of McDonald's in Thailand, plans to spend US$ 140.8 million to double the number of outlets over the next five years. ▪
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Flipkart takes on Paytm   India’s largest online retailer makes a push into the payment business with the launch of an online wallet called Flipkart Money, which will directly compete with the Alibaba-backed Paytm. Payments made via mobile handsets will reach 148 million this year according to a study by Juniper Research. ▪
Store risks and a new format    British department store operator BHS is threatening to close up to half its shops as the cash-strapped retailer tries to negotiate a reduction in rents with its landlords. Meanwhile, the founders of Northampton-based 99p Stores plan a new single-price discount chain in partnership with Crown Crest. ▪
Sainsbury's set to get hostile   The British supermarket group has clarified that it is able to go hostile in its bid for Argos-owner Home Retail Group. Sainsbury's had offered GBP 1.4 billion in February, but was outbid by South Africa’s Steinhoff International. ▪
Maersk to reduce carbon footprint    Danish-based global container shipping company Maersk has reportedly found a way to maintain fruit quality in its reefer units while reducing energy usage and cost. The new software was trialled with US multinational food company Dole. ▪
usa & canada
Costco pays more   Beginning in March, America's second-largest retailer by sales, will raise its minimum wage for store workers for the first time in nine years. This is regarded as a response to the tightening labour market. On Wednesday, Costco reported an 8.7% drop in quarterly earnings. ▪
Drugstore mega deal   Drug distributor McKesson has announced to buy Rexall Health for US$ 2.2 billion to strengthen its position in Canada's pharmaceutical supply chain. The latter is the second-largest drugstore chain in in the country, operating 470 outlets. ▪
Animal welfare matters    Following competitor Alberstons, supermarket operator Kroger, which struggles with slowing sales, will switch to 100% cage-free eggs by 2025. The Guardian takes a closer look at the growing interest in the welfare and environmental impact of animals reared for meat, dairy and eggs. ▪
European icons set benchmarks  Spanish clothing giant Zara has opened an eco-efficient flagship in the heart of Manhattan and Swedish furniture retailer Ikea is on track to make its Nevada debut this spring. It will open its first store in Las Vegas in May.   ▪
Clover exits Nigeria   Dairy products and beverages group Clover is another South African company that will no longer invest in Nigeria due to stringent import regulation and foreign exchange controls. Plans to invest in Angola are also put on hold. ▪
Concern about SABMiller merger   South African trade unions have written to the Competition Tribunal expressing their concerns about the merger between SABMiller, Gutsche Family Investments and Coca Cola, arguing that the parties cannot guarantee that jobs and the economy will be protected. ▪

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