Law

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).

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.

Chinese employers to hire more in Q3, survey shows

Source: 
Shanghai Daily

More Chinese employers will expand recruitment in the third quarter, and demand for junior workers outpaced that for middle-level management, online recruitment portal 51job.com said on Tuesday.

The website found 88.5 percent respondents said they will hire more staff in the third quarter than they did in the same period of last year, nearly 10 percentage points more than the survey last year, according to a survey covering 21,173 employers conducted between April and June.

KFC closes Thailand's Pattani, Yala stores

Source: 
Bangkok Post

Restaurant operator KFC will close its outlets in two of Thailand's restive southern provinces after determining it couldn’t complete needed renovations.

The fried-chicken chain said Tuesday the closures of two stores in Pattani and one in Yala were only temporary, but gave no indication how long the shutdowns would last. In the interim, it has relocated 13 employees to other stores.

In a statement, KFC said the three stores, which have been operating for 10 years, need renovations that cannot be done due to continuing violence in the provinces.
 

7-Eleven in Australia undertakes retail process re-engineering

7-Eleven Australia is undertaking a retail process re-engineering to enable it to launch new merchandise categories, improve the efficiency of existing merchandise categories, initiate real-time targeted promotions, and on-board new processes during mergers and acquisitions.

The integrated engagement includes the upgrade, migration and consolidation of 7-Eleven's IT applications and infrastructure, which is expected to improve speed and agility of its go-to-market initiatives

Retailers see investments in loss prevention paying off

Source: 
Retail in Asia

Shrink cost the retail industry more than USD112 billion globally in 2012, representing an average 1.4 percent of retail sales, according to a study of merchandise availability solutions provider Checkpoint Systems last year.

More Crazy Clarks stores to close

Source: 
The Sydney Morning Herald Online

Another 29 Crazy Clarks and Sam's Warehouse stores in Australia will close and more than 480 employees will lose their jobs following the collapse of parent company Discount Super Group.

The move takes the total number of stores closed to 39, with further closures to be announced this week.

Receivers KordaMentha are looking to close down unprofitable stores while finding buyers for the profitable ones as well as trying to find money to cover about AUD10 million in staff entitlements.
 

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