Global e-commerce player eBay is yet another online giant to give the emerging Indian market a go by partnering with Paytm. Japan's apparel chain Uniqlo has also ambitious plans in the subcontinent and convenience chain 7-Eleven sees the potential for more than 500 locations. Read on to see what happened in other parts of the globe.




Friday, 19 July 2019





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Global e-commerce player eBay is yet another online giant to give the emerging Indian market a go by partnering with Paytm. Japan's apparel chain Uniqlo has also ambitious plans in the subcontinent and convenience chain 7-Eleven sees the potential for more than 500 locations. Read on to see what happened in other parts of the globe.

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Europe


Changing conditions ▪ Upmarket grocer Waitrose has announced more store closings and will shut seven locations, affecting nearly 700 jobs. Insiders see it as the latest sign of the ever-growing competition in the UK retail market. Three of the Waitrose outlets have been sold to German discounter Lidl.



Market strategy ▪ Coca Cola will launch a full range of Costa Coffee branded products in several European markets as early as next year, including Bulgaria, Greece, Hungary, Poland, Romania, Russia and Switzerland. The bottler bought the coffee empire in a USD 5.1 billion deal some months ago.




US & Mexico


Reporting results ▪ Walmart de Mexico enjoyed a nearly 10% jump in profit in the second quarter, signalling a healthy performance for its parent company's largest overseas market. E-commerce player eBay grew solid but tepid in the same period. Net revenue was up 2% to USD 2.69 billion.



Small comeback ▪ Toys 'R' US returns with a different business model. The iconic retailer, now called Tru Kids Brands, will open two considerably smaller stores in the US in collaboration with software retailer b8ta. In June, it was announced that the toy chain will launch six stores.



Fresh approach ▪ Ahold Delhaize plans to operate a processing facility in Rhode Island through its subsidiary Infinity Fresh Kitchen. The culinary innovation centre will process fresh products for some of the company's stores such as Hannaford and Stop & Shop.



Turnaround attempt ▪ J.C. Penney has hired advisers to explore debt restructuring options. The struggling department store chain faces fierce competition from discount retailers and has struggled to establish its e-commerce business. Its credit rating is deep in junk territory.




Asia & Australia


Big Deal ▪ Anheuser-Busch InBev, the world’s largest brewer, has agreed to sell its Australian operations to Japan’s Asahi and is interested in reviving the stalled flotation of its Asian business.



Indian investment ▪ eBay pushes into the country's fast-growing and competitive online market, which expected to more than double to USD 71.94 billion by 2022. The global e-tailer has bought a 5,5% stake in e-commerce marketplace Paytm Mall, which is valued at USD 3 billion.



More market entries ▪ Convenience store chain 7-Eleven might open over 500 stores in India over the next five years, according to leading retailer Future Group, the franchisee of Japan's Seven & i Holdings. Japanese fast-fashion giant Uniqlo has also a big roll-out plan and will launch the first three locations in fall this year.



Cutting costs ▪ Australian supermarket leader Woolworths has announced the first three closures of its discount chain Big W as it continues with its cost-saving strategy. Big W reported a loss of AUD 110 million last year. Meanwhile, department store operator David Jones saves money by slashing 120 jobs in its head office.




Store debuts


Footwear momentum ▪ Saks Fifth Avenue has reinvented the men's footwear area (with pictures) in its Manhattan flagship. The section is regarded as one of the largest men's shoe destination. It offers a number of services, among them a shoe shining and repair station.



Experience yoghurt ▪ Dairy group Müller has opened its first-ever pop-up shop in London. Customers can create their own yoghurt with up to 28,000 possible combinations available. The ‘Müller Corner Shop’ also provides a choice of various fruit compotes and 21 inclusions.