Australia's largest retailer of consumer electronics products announced plans of listing on the Australian Securities Exchange (ASX).
Dick Smith Holdings Limited (Dick Smith) lodged the prosecutes for the Initial Public Offering (IPO) with the Australian Securities and Investments Commission (ASIC) on Thursday.
Based on a share price of AUD2.20 per share, the company expects the offering to raise AUS344.5 million (USD).
In Bangladesh's villages and on its street corners, Japanese fashion giant Uniqlo is quietly gathering market data to help it in its ambition of becoming the world's top clothing brand in seven years.
Like other global brands, Uniqlo set up shop in Bangladesh's cities to tap into their cheap labour and make casual fashion wear affordable and profitable. But it has also gone into the country's impoverished villages and neighbourhoods looking for a way to give something back to a country that many said was being exploited by the garment industry.
Avon Products says it will cut about 1,500 jobs and exit two Asian markets – South Korea and Vietnam – as the struggling beauty products seller takes initial steps toward its cost-cutting goal.
The job cuts amount to almost 4 percent of its workforce and mark one of the first major moves by CEO Sheri McCoy, who was brought on in April to replace longtime CEO Andrea Jung.
After nearly 14 years of working to persuade China to buy into its foreign coffee culture, Starbucks Corp. is aiming to become more Chinese as it plans a rapid expansion in the country.
Belinda Wong, president of Starbucks China, said in an interview that Starbucks aims to roll out 800 new stores in the next three years to add to its existing fleet of 700. Over that period it will increase the number of employees to more than 30,000 from the current 12,000.
According to the fifth annual edition of the Global Retail Theft Barometer, retail shrinkage rate in Japan is 1.04 percent of sales, the third-lowest in the world. However, this rate was up 4 percent compared to the previous year. The total shrinkage amount – profit loss due to customer and employee theft, supplier/vendor fraud and administrative errors – in Japan reached JPY774 billion (USD9.96b), the second-highest worldwide, representing almost 53 percent of the total sum in the Asia-Pacific.
The Australian National Retailers’ Association (ANRA) welcomed the recommendation of the Economic Regulation Authority’s draft report to fully deregulate trading hours in Western Australia.
“Today’s recommendations are clearly sensible and show an understanding of the value of retail to the economy and its capacity to create jobs," said ANRA CEO Margy Osmond. “There’s no doubt flexible trading hours benefit employees, consumers and the economy. Technology and the changing demands of shoppers means consumers want more choice."
The recently concluded World Retail Congress Asia-Pacific held in Singapore recently provided a snapshot of the retail industry's current landscape and what's new in the horizon. Retailers agree: mobile commerce and social media are the most exciting development in the e-commerce space in the Asia-Pacific region.
In the latest survey shrink remains a significant operational challenge for retailers around the world, with loss rates ranging from 1 percent of sales in Japan to 1.6 percent in Mexico and Brazil.
Australian retailers are convinced the job prospects in the retail sector is bright - about 50 percent more jobs in the next four years compared to the previous four will be created according to estimates. However, the government must deliver on its plans to clear out red tape and bring down barriers.
Amway India is increasingly betting on growing alternative channels, having run into rough weather over the last two years. The subsidiary of the USD12-billion US-based Amway Corporation had got into trouble with regulatory issues over its direct-selling (through multi-level marketing), which even saw its senior management being charged with financial irregularities. It is now planning to expand its retail base with some of the premium brands in its bag.