Hello, dear reader,
Britain's Theresa May surprised her countrymen by calling for a snap general election. Business experts reacted with a mixture of surprise, uncertainty and confidence. We take a look at their expectations in today's issue. Following Walmart, Petsmart invests billions in an online acquisition to head off Amazon. Enjoy the read!
Mega online deal
In what is called the largest e-commerce acquisition ever, pet supply retailer Petsmart, valued at US$ 8.7 billion, has agreed to buy online marketplace Chewy.com for US$ 3.35 billion. The deal is even bigger than Walmart's takeover of Jet.com last year.
More digital partnerships
Money transfer company Paypal is expanding its footprint by joining forces with Google's Android Pay mobile platforms, and tech giant Oracle has acquired ad measurement company Moat, which helps advertisers to validate online ads and has worked with the likes of Unilever, P&G and Nestlé.
Department store revamps
Chinese-owned House of Fraser, which has delivered mostly positive full-year results, plans to turn its shops into a “lifestyle-led experience”, and Debenhams is set to renovate the retail chain’s 165 stores and cut some in-house brands in a bid to lure back shoppers.
Swiss partner for Alibaba
Switzerland-based global transport company Kuehne + Nagel has signed an agreement with the Chinese e-commerce behemoth to provide China-based shippers with logistics solutions. The partnership is said to lead to an expansion of services outside China.
Asia & Australia
More drones for JD.com
The Chinese e-commerce heavyweight plans to build 150 drone launch facilities in Sichuan province for unmanned aerial vehicle parcel delivery. Having secured government approval, drone deliveries in China are at the forefront of commercial delivery innovation.
Convenience Japan style
In an effort to cope with a severe lack of manpower, the country's major retailers, including convenience store operator Seven & I Holdings and other chain operators, will allow customers to use self-checkout computer kiosks to scan an entire basket of items. The system will debut next year.
Latin America & Africa