Indian e-commerce companies may run into more competition in the months ahead with global entities such as Alibaba, Rakuten and Walmart seriously eyeing the Indian market.
Founded by two ex-Amazon employees Sachin and Binny Bansal, Flipkart has been changing its formats and strategy over the last year with Amazon’s entry.
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.
Australian supermarket chain Coles plans to cut between 500 and 600 jobs from its head office in Melbourne as part of a renewed efficiency drive aimed at freeing up funds to reinvest in reducing food and liquor prices.
The job cuts are expected to be announced in Melbourne on Wednesday by new Coles managing director, John Durkan.
The Australian statutory office Fair Work Ombudsman has warned the major supermarket chains could face penalties if they fail to ensure trolley workers are paid fairly.
In a speech on Friday, Fair Work Ombudsman Natalie James said she was concerned the grocery giants were solely focused on cost, placing vulnerable staff at risk.
China's Wanda Group, Baidu and Tencent announced on Friday that they will establish the Wanda E-commerce Company, a Hong Kong registered joint venture with an initial capital of CNY5 billion (USD814 million).
The partnership expects to integrate their corresponding products and strengths to create an online-to-offline (O2O) e-commerce business model. Plans also include developing payment and e-commerce financial products, building a universal customer loyalty program, big data integration, Wi-Fi sharing, and product integration.
As Silicon Valley companies struggle to hire women into their senior ranks, China's Alibaba Group Holding is setting an example of how to do it.
The Hangzhou-based e-commerce company, which plans to sell shares next month in what may be the largest initial public offering in US history, counts nine females among the 27 partners who control management, including Chief Financial Officer Maggie Wu and Chief People Officer Lucy Peng. That's triple the ratio of women in board seats and senior executive roles at the largest companies in California.