Going public is the topic of the day with Global Fashion Group and Chewy.com both seeking to launch an IPO, while apparel chain Urban Outfitters and cosmetics giant Ulta Beauty are looking for growth outside their US home country. A supersized toilet roll and a Tokyo flagship have also caught our attention today. Read on to find out why!




Tuesday, 04 June 2019





Hello ,

Going public is the topic of the day with Global Fashion Group and Chewy.com both seeking to launch an IPO, while apparel chain Urban Outfitters and cosmetics giant Ulta Beauty are looking for growth outside their US home country. A supersized toilet roll and a Tokyo flagship have also caught our attention today. Read on to find out why!




Europe


Polish ventures ▪ Tesco continues to scale down in Poland and will close four hypermarkets and a distribution centre to save money. The British supermarket leader has already shut 62 stores in the country. Meanwhile, American fashion chain Urban Outfitter is set to open its first store in the Eastern European nation.



Going public ▪ Global Fashion Group, which is backed by Germany's Rocket Internet, is preparing a flotation at the Frankfurt stock market. The online retailer wants to build out its presence in emerging markets and plans to raise about EUR 300 million. GFG counts 11.2 million active customers.



Spanish alliance ▪ JD.com has sealed an agreement (in Spanish) with ICEX, the institute for foreign trade, to encourage Spanish companies to enter the Chinese market and promote their products on the Chinese e-tailer’s digital platforms. A training programme is also in planning.




US & Canada


Delivery race ▪ Online powerhouse Amazon has revealed that it is expanding its 1-day delivery option for Prime members to 10 million products, with no minimum purchase amount. The move is regarded as a shot at fierce rival Walmart who recently launched next-day shipping.



In search of talents ▪ Walmart has hired Scott Eckert to run its start-up incubator, Store No. 8, whose aim is to boost company’s online business. The retail giant is also seeking to attract high school students and will expand an education program it started a year ago.



Growth strategies ▪ Chewy.com, a unit of PetSmart, is set to launch an IPO and intends to raise USD 749. The online pet supply retailer offers more than 45,000 products through its website. On the back of strong results in Q1, retailer Ulta Beauty plans to expand across the border by opening a store in Canada.




Asia & Australia


Business overhaul ▪ Starbucks China gears up for a more intense focus on its digital business and has announced Belinda Wong as chairman and CEO of its Chinese operations. She will oversee new business development in the mainland and focus on long-term growth.



Sneak peek ▪ Lush has opened a flagship in Tokyo, (including pictures) which is its largest store in Asia so far. The location extends over three storeys and promises an “experiential, imaginative retail space" showcasing the cosmetic chain’s innovation in technology.



Supplies secured ▪ Australian wholesaler Metcash has signed a five-year supply deal with independent grocer Drakes Supermarkets in South Australia and Queensland. Drakes has more than 50 stores in both states and the account is worth around AUD 270 million to Metcash annually.




Weird and wonderful


Massive roll ▪ Procter & Gamble has created a new toilet-paper roll for people who live alone and have limited storage space. The so-called Charmin Forever Roll is nearly three times the size of a conventional one and could last for months in a single-person household. That's one item less of the weekly shopping list.



Decisive action ▪ Cosmetics chain Sephora will conduct a one-hour diversity training for employees in all its American stores, distribution centres and offices this Wednesday. The move follows an accusation of R&B singer SZA, who claimed she has received discriminatory treatment in one of their stores.