Retail Update - powered by LebensmittelZeitung
Retail Update - powered by LebensmittelZeitung
Wednesday, 13 July 2016

Hello, dear reader!
Germany's Edeka has been prevented from acquiring rival Tengelmann by a regional court decision, which overruled a minister's approval. In China, France's Auchan develops its online platform, while Swedish giant Ikea was forced to recall millions of products. Some US retailers prove that sustainability is important and in Cuba, the first wholesale store might have opened. Enjoy your Wednesday bulletin.

asia & Australia
Decisions and deals in China   The Chinese arm of French retail group Auchan has signed a deal with digital intelligence firm Keyrus to develop its online platform in the country +++ Swedish furniture company Ikea has agreed to recall 1.66 million chests and dressers in China over concerns they could pose a danger to children. ▪
Bigbasket gets ready   In order to compete with the likes of Amazon and Walmart, Indian online grocery company Bigbasket plans to invest up to US$ 3,5 million to recruit hundreds more farmers to its network. Last week, the company announced that it is already sourcing 60% of its fruits and vegetables requirements directly from farmers. ▪
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Coles pushes prices   The Australian supermarket giant challenges rival Woolworths by cutting the price of 145 private label grocery lines by as much as 25%. The company's focus on private label lines for its latest price push is also targeting Aldi shoppers, according to retail analysts. ▪
europe & Middle East
Tengelmann takeover stopped   The acquisition of supermarket chain Tengelmann by rival Edeka, which already had the approval of Economy Minister Sigmar Gabriel, has been put on hold by the higher regional court of Düsseldorf, claiming the approval is unlawful. Edeka is now checking legal possibilities (in German, paywall), Lebensmittel-Zeitung reports. ▪
Expansion plans   Canadian department store group Hudson’s Bay has signed rental contracts for its planned seven new store locations in the Netherlands and UK retailer Iceland Foods continues to increase its presence in Ireland by opening its 12th store in the country. ▪
Ebay buys in Israel   The US e-commerce giant plans to acquire Israeli start-up SalesPredict, which uses advanced analytics to predict consumer-buying behaviour. Financial terms of the deal were not disclosed but sources estimate that the acquisition was for about US$ 40 million. ▪
USA & Canada
Physical and digital efforts   In a bid to better serve customers in the region, US tech-focused online retailer Newegg will open its first Hybrid Centre in Ontario this Friday +++ Home renovation chain Rona says its efforts to attract tech-savvy shoppers got a boost and sales doubled when it replaced its printed flyer with an expanded digital offering. ▪
Sustainability matters   In collaboration with Conservation International, convenience store chain 7-Eleven has committed to reducing its energy and packaging footprint in stores by 20% , while retail heavyweights Kroger and Target have released sustainability updates that highlight steps to improve seafood sourcing. ▪
latin America
Cencosud offers shares   The owners of the Chile-based retailer announced that they would sell a 5% stake in the company via a share offering. Cencosud runs the 'Jumbo' supermarket, 'Paris' department store and 'Easy' home improvement brands and operates throughout South America. ▪
Store experiments   Brazilian supermarket chain Zona Sul has installed "fresh gardens" in the vegetable department, where rows of herbs and greens are displayed as if they were growing in the store +++ In Cuba, Zona+, a shop that could eventually operate as the island's first wholesale store, opened in Havana. ▪

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