Southeast Asia's Grab considering U.S. IPO this year - sources
Southeast Asian ride-hailing and food delivery giant Grab is exploring a listing in the United States this year, encouraged by robust investor appetite for IPOs, three sources familiar with the matter told Reuters. The IPO could raise at least $2bln, one of the sources said, which would likely make it the largest overseas share offering by a Southeast Asian company.
US: Stop & Shop aims to strengthen minority-owned businesses
Stop & Shop is spending $55,000 to strengthen New England's minority-owned businesses, with a special focus on Black-owned businesses. The Greater New England Minority Supplier Development Council (GNEMSDC) has received a $50,000 investment from Stop & Shop Supermarkets, and an additional $5,000 from the Stop & Shop NextGen Associate Resource Group, a team of Millennial and Gen Z Stop & Shop associates dedicated to economic inclusion.
Canada's Couche-Tard to explore partnership opportunities with Carrefour, after takeover plan fails
Canada’s Alimentation Couche-Tard and European retailer Carrefour SA have decided to work on partnership opportunities after takeover talks failed, the two companies said in a joint statement. Couche-Tard dropped its 16.2bln euro ($19.57bln) bid for Carrefour after the French government opposed the deal, citing food security concerns.
US: Walmart’s ecommerce CEO leaving the business
Marc Lore, president and CEO, Walmart US ecommerce, is leaving the business at the end of January. He will remain as a strategic advisor to the retailer until the end of September. Lore joined Walmart in 2016 as part of the acquisition of Jet.com, the ecommerce business he founded. In addition to being able to optimise the capabilities of Jet.com, bringing Lore into Walmart’s leadership team has made a transformational difference to the retailer’s ecommerce business and its ability to scale at pace.
US: Pandemic shoppers lift holiday sales 8.3%
Consumers flush with stimulus cash and looking to relieve pandemic stress propelled holiday sales an unexpectedly high 8.3% to $789.4bln over the November-December period. The increase exceeded the National Retail Federation’s holiday forecast despite the economic challenges of the coronavirus pandemic. The numbers include online and other non-stores sales, which were up 23.9% at $209bln.
SPAR Spain continued expansion and modernisation in fourth quarter
Support for local communities continued with investment in new stores and refurbishment by SPAR Spain partners. Home delivery services have been included wherever possible. SPAR Own Brand product ranges complement the full range of groceries available in stores. High standards of customer service is a focus of the store teams who are also informed about local products and specialities. Integration of eco-friendly refrigeration, reusable materials and the adoption of LED technology considerably improves the stores’ retail sustainability.
UK: Ocado launched major rebrand to maximise digital impact
Ocado has launched a major rebrand changing its logo, colour and typeface to create “the most digital, flexible and accessible version” of its brand yet. According to the online retailer, there were bits of its branding which “weren’t designed for use in modern digital environments” leading it to launch a major overhaul. The overhaul has seen Ocado’s brand colour change from green to purple, which is reportedly “inspired by fresh fruit and vegetables”.
UK's Midcounties Co-op: +7.7% Christmas growth
Midcounties Co-op has reported a positive performance over the Christmas period. In the three weeks to 2 January 2021, like-for-like sales increased by 7.7%. The retailer said sales growth was boosted by its enhanced seasonal range, including a record number of locally-sourced products.
Italy: Multicedi to continue expansion in 2021
Italian regional food retailer Multicedi is planning to open new stores and expand to new areas in 2021. Despite a challenging year due to the COVID-19 pandemic, the Pastorano-based company opened 29 new stores in four different Italian regions in 2020. Multicedi’s growth strategy is based on two main pillars: improving the current sales network and expanding its presence by conquering new geographical areas. Therefore, the company will boost its market position in the Campania and Lazio regions and open the first stores in Puglia.
Spain: DIA maintains turnover despite supermarket closures
DIA Group has ended its fiscal year 2020 with a similar net sales performance as the previous year, despite reducing the size of its store portfolio. Net group sales totalled €6.88bln last year, up 0.2% compared to 2019, while like-for-like sales grew by 7.6% in the same period, reflecting sustained improvement in the group's commercial offer and operational performance. Average basket size increased by 23% across all markets, more than offsetting a 13% decline in traffic.
India: Reliance Retail to use Kiranas for online delivery
Reliance Retail will depart from its previous strategy of directly selling packaged grocery products. Instead, its e-commerce platform JioMart will soon use Kirana stores as franchise partners to deliver non-perishable grocery items in India. JioMart will utilise the existing inventory of these Kiranas, which typically sell the most popular items in their neighbourhoods. And in case there are non-perishable products ordered online which are not in stock with the Kiranas, Reliance Retail will supply them and the margins will be shared equally among the parties involved. Reliance Retail will also continue to sell fruits, vegetables and other perishable items in its stores and fulfillment centres.
Small-scale supplier the ultimate winner in partnership with Shoprite Zambia
The Mweemba family’s fortunes have undergone considerable change since they became the first local supplier of fresh vegetables to Shoprite Zambia, when the retailer entered this market 25 years ago. The late Ezekiel Collin Mweemba started subsistence farming after he lost his job at the end of 1994 when the national carrier, Zambia Airways, was liquidated. His cousin told him about Freshmark, the fresh produce procurement arm of Shoprite, and so a mutually beneficial business relationship started, which fuelled the growth of his business, ECM Farms, managed these days by his daughter, Mazuba Mweemba Songwe. ECM Farms provide the retailer with leafy vegetables like rape, spinach, Kalembula, Chibwabwa, Chinese cabbage and Bondwe. “Our growth has been phenomenal. We would never have crossed over to small-scale commercial farming had it not been for the ongoing support from Shoprite Zambia”.