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Germany's Metro goes its own way to spur growth in China and Alibaba's Alipay aims to reach more travellers in Europe. Top-level shake-ups were announced at Aldi UK and toy giant Lego, US retailer Kroger and Sears. The fight against food waste remains a priority topic in the industry. Enjoy the read and please share, if you like it. Subscription to RetailUpdate is FREE.
asia & australasia
Metro looks for land Despite surging land costs, the Germany-based retail group is keen to add self-build stores to its portfolio in China and continues to look for reasonably priced offers. The company argues that by owning its own stores it can provide customers with the best service.
Break-ups and exits Britain's Co-operative Group has offloaded its stake in travel joint venture with Thomas Cook. The global travel company will pay GBP 55.8 million to take full control of the retail travel business. German cosmetics chain Douglas has closed its 11 stores in Turkey, claiming its market share in the country is too small.
Innovative in Italy In collaboration with international information technology company Accenture Coop Italia has opened a flagship store in Milan, dubbed 'the supermarket of the future'. It merges the physical and digital to recreate the ambience of an open-air market.
usa & latin america
Management struggles Two executives and a key director have left ailing retailer Sears, sending a dire warning that upcoming results will be disappointing and the company might be doomed. The future looks brighter for supermarket giant Kroger, which has appointed Yael Cosset as its next chief digital officer, replacing Kevin Dougherty.
Casino stays focused in Latam The French retailer tops Latin Trade’s third-quarter Multinational Index with revenues of US$ 5.5 billion. Last month, the company announced that it will sell its Brazil-based furniture and electronics retail business, Via Varejo, to concentrate on its food business.
Ikea supports parents To attract new talent and hold on to existing staff, the Swedish furniture retailer has announced one of the most generous parental leave programmes in the US. From next year on, Ikea will provide all its employees with up to four months of paid parental leave.
Pioneer in Africa Onyx Connect, a Johannesburg start-up, wants to become the first company to manufacture smartphones in Africa, taking advantage of low costs, and growing local demand to build handsets, tablets and other devices.