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.
Global fashion retailer H&M and the International Labor Organization (ILO) recently partnered to establish a model for a global and supply chain.
“Issues in the garment industry are systemic and require action that helps develop effective industrial relations and promote respect of international labour standards. There is therefore an urgent need to establish strategic and comprehensive collaborations with companies that have experience in these fields, such as H&M,” said ILO Director-General Guy Ryder.
Fossil Group Inc. and Intel Corporation recently announced a collaboration agreement to develop wearable technology for the fashion industry.
The two companies said they will work together on emerging products and technologies that will be developed for the fashion-oriented consumer.
Fossil's goal is to enable iconic fashion brands within the company’s portfolio to use wearable technology in a fashionable way. Meanwhile, Intel said it will focus on identifying trends and emerging uses of technology and accelerating wearable technology innovation worldwide.
Stored value leader SVS expands in Shanghai to support retail development
Stored Value Solutions, the world’s premier provider of branded currency for retail, is bringing gift card expertise to China. To comply with regulations that new gift cards issued in China be processed within the country, SVS recently added a data center to its regional office in Shanghai.
With 3,000 stores across 38 markets worldwide, Danish fashion brand Bestseller is at the top of its game. Fast, affordable fashion is gaining more traction globally, but its growth momentum is stunning in India, where it has been expanding dramatically in the last few years.
Bestseller India CIO Ranjan Sharma said the rate of business was growing last year at 100 percent year-on-year. Managing this growth is a big challenge, but the "beleaguered" CIO is more than happy to find solutions through technology and innovations.