Labor

Rakuten takes stake in Chinese online discount provider Fanli

Source: 
CNBC

Japanese online retailer Rakuten said on Monday it bought a stake of less than 10 percent in Chinese online discount provider Fanli, as it continues a push into overseas markets.

Rakuten – one of Japan's biggest online retailers – is trying to use its stronghold in its domestic market to transform itself from a pure e-commerce firm into a one-stop-site for a global audience, along the lines of Amazon.com.

Toys "R" Us Australia accumulates USD344m in losses

Source: 
The Sydney Morning Herald Online

Toys "R" Us, the self-described "world's first toy supermarket", has racked up accumulated losses of almost AUD450 million (USD343.9m) since arriving in Australia.

The US-based toy and baby products retailer has operated in Australia for more than two decades. It has more than 30 stores, 11 Babies "R" Us Superstores, online operations and about 1600 employees.

Researchers IBISWorld said it had lost market power over the past five years, but was the second-biggest player in the AUD850 million toy and game retailing industry.
 

Target’s closure of Canada stores a ‘difficult’ decision

US-based Target Corporation recently announced that it is closing all its stores in Canada and is about to begin a court-supervised winding down of its Canadian businesses.

Brian Cornell, Target Corporation Chairman and CEO, said the move was a ‘difficult’ decision, but the right one for Target.

“We had great expectations for Canada but our early missteps proved too difficult to overcome,” he said.

Global companies set sights on India's e-commerce market

Source: 
The Hindu Business Line

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.

Dick Smith's IPO to open opportunities for investors in Australian electronics business

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).

Uniqlo finds wealth of data in Bangladesh not-for-profit venture

Source: 
The Wall Street Journal Online

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 to cut 1,500 jobs, leave 2 Asia markets

Source: 
The Jakarta Post

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.

Starbucks to roll out 800 new stores, add over 18000 employees in China for next 3 years

Source: 
The Wall Street Journal Online

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.

Global Retail Theft Barometer Study finds shrinkage in Japan is the 2nd-highest in the world

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.

High-end retailer Myer axes about 80 head office jobs

Source: 
The Sydney Morning Herald Online

Embattled retailer Myer has slashed about 80 jobs from its Melbourne head office as the department store chain restructures its business under new boss Richard Umbers.

Two senior executives have lost their jobs as part of the clean-out from former chief executive Bernie Brookes' departure.

Among the higher-profile redundancies were digital general manager Marianne Jones and national visual merchandising manager John Strickland – both of whom were reportedly close to Mr Brookes.

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