Law

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).

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.

Taking Stock: Myanmar fast gearing up for m-commerce, m-payment

Myanmar has been receivng a lot of attention in recent years, following the government’s move to start the process of opening up its economy. Today, even mobile commerce and mobile payments are showing signs of promise and may flourish sooner than expected.

Alibaba staff denied traditional Chinese New Year gift by CEO

Source: 
The Malaysian Insider

Internet tycoon Jack Ma has said his employees will not receive traditional Chinese New Year gifts because 2014 had not been "exceptional" for the company, despite its world-beating IPO listing on Wall Street.

Chinese bosses ordinarily hand out "hong bao" – red envelopes filled with cash – to staff ahead of the week-long holiday to wish them luck for the year ahead.

Chinese New Year begins on 19 February and will usher in the Year of the Sheep, while waving goodbye to the Year of the Horse.
 

Snapdeal makes it to the top 10 employers' club in retail

Source: 
Business Standard

Snapdeal has become the first e-commerce company in India to enter the best employers’ club. The latest survey by Great Place To Work Institute India, in partnership with Retailers Association of India, has put the New Delhi-based firm among the top 10 employers among retailers. The other nine companies in the list are traditional brick and mortar retailers.

 

Mastercard's Indian tech hub to develop cashless payment systems

MasterCard has opened a new technology hub in India, a key part of the company’s strategy to drive the development of cutting-edge payment technologies aimed at enabling a cashless world.

The facility in Pune, together with its Vadodara counterpart, represents the company’s largest Tech Hub outside of the US.

Apple standout winner in China's luxury slowdown

Source: 
CNBC

Chinese corporates and wealthy consumers are taking gift-giving down a notch this Lunar New Year, opting for iPhones instead of Birkin bags or Louis Vuitton wallets.

The annual holiday, which falls on February 19-20 this year, is a time of gift exchange between family, colleagues and business contacts.

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