Some notable alliances are featured in today's issue. Chinese online giant JD.com has joined forces with its Japanese counterpart Rakuten, sportswear major Puma is set to collaborate with Porsche, and Spanish retailer El Corte Inglés has signed an agreement with a Dutch group. Get informed and have a great weekend.




Friday, 22 February 2019





Hello ,

Some notable alliances are featured in today's issue. Chinese online giant JD.com has joined forces with its Japanese counterpart Rakuten, sportswear major Puma is set to collaborate with Porsche, and Spanish retailer El Corte Inglés has signed an agreement with a Dutch group. Get informed and have a great weekend.

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Europe


Delivery moves ▪ Russia's Dixy Group has successfully tested a high-tech system that will help the retailer to automate transport. Competitor X5 Retail has joined forces with PickPoint to develop a network of 1,500 parcel lockers, and in Amsterdam, Dutch grocer Jumbo will use electric street scooters to deliver online orders.



Clear vision ▪ Spanish retailer El Corte Inglés has reached an agreement with Dutch group GrandVision to sell its Optica 2000 chain, a network of 106 stores throughout Spain and two in Portugal, to the latter. The Spanish brand offers high-quality optical products and hearing aids as well as specialised tests.


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Focus on France ▪ E-commerce marketplace Joom is recruiting French brands to bolster its presence in a market it sees as key to get into Europe and taking on Amazon. The Russian-based app mainly sells Chinese products, from cell phones to sneakers, at cut-rate prices directly to buyers.




US & Canada


Under investigation ▪ Food giant Kraft Heinz reported disappointing quarterly results and said it had received a subpoena from US authorities about its accounting practices. As a result, the company is lowering its quarterly dividend, sending shares to a 16% plunge.



Reporting results ▪ Canadian retailer Loblaw posted a better-than-expected quarterly profit and was able to expand its home delivery service with Instacart despite fierce competition from Amazon. Arizona-based organic grocer Sprouts Farmers Market also delivered a strong quarter performance.



Streamlining operations ▪ Toronto-headquartered retail group Hudson's Bay announced the closure of its Home Outfitters business in Canada and will shut 20 of its US Saks Off Fifth stores to reduce costs, simplify the business and focus on e-commerce.



Successful start-up ▪ Food delivery service DoorDash has raised USD 400 million and is now valued at USD 7.1 billion, despite impending IPS by rivals such as Postmate and Uber. DoorDash currently services 3,000 US cities and wants to expand in Canada.




Asia & Africa


Cross-border collaboration ▪ Japanese e-commerce firm Rakuten is set to partner with Chinese counterpart JD.com that will see its drones become a part of Rakuten’s delivery service efforts.



Disappointing performance ▪ South Africa's Woolworths reported a drop in half-year earnings. Its fashion, beauty and home business has been lacklustre. The company’s ailing David Jones division in Australia continues to be an issue for the retail group and it was announced that there will be no dividend in the next two years.




Innovative ideas


Puma and Porsche ▪ The German sportswear firm is launching an upmarket collection in collaboration with Porsche Design, the fashion and accessories brand of the iconic car label. The first shoes and garments of the two partners will go on sale March 1.



Educational initiative ▪ Amazon cares about education and has announced to bring computer science courses to over 1,000 high schools in all 50 states and the District of Columbia. The classes, which are funded through one of Amazon's funding programmes, are said to reach tens of thousands of students nationwide.