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Faced with inflation and the housing crisis, Ikea sales fall for the first time in 5 years
While the restriction of purchasing power for the working classes continues unabated, even shaking up the political landscape, Ikea's sales fell by 4% in value and remained sluggish in volume in...
Saudi Cenomi and GIB Capital launch a €245 million retail property fund
On October 8, 2024, in Saudi Arabia, mall developer Cenomi Centres (66 million visitors in H1 2024, 92.5% occupancy rate) joined forces with investment fund GIB Capital (a branch of Gulf...
Lectra aims to reduce waste in the fashion industry with Valia
As pressure mounts on fashion retailers to combine profitability with CSR regulations, Lectra is launching Valia, a cloud-based software package that optimises textile cutting and reduces waste.
British department stores Selfridges flies under Thai-Saudi flag
On October 7, 2024, the Saudi Arabian public investment fund announced acquisition of Austrian Signa‘s shares in Selfridges Group. The Saudi government thus becomes a 40% minority...
The U.S.A Department of Justice wants to dismantle Google
On October 8, 2024, the U.S. Department of Justice (DOJ) published initial proposals for remedies to break up Google‘s alleged illegal monopoly of the search and sponsored links market. The...
14 October 2024
In the retail sector, M&A are expected to rise in the GCC in 2024
As online retailers are putting a rising pressure on omnichannel retailers, retailers located in the Gulf Cooperation Council are expected to see a rise in M&A transactions. According to the...
11 October 2024
Norauto teams up with Klaro to boost staff purchasing power
Since June 2024, Norauto's HR department has been offering all 7,000 French staff use of  Klaro, a start-up simplifying access to welfare benefits and local assistance. Staff using the app are now...
With Gemini’s AI, Google stands up to OpenAI and wants to conquer India
Google (Alphabet Inc., revenue of US$165.3 billion in H1 to June 2024, net margin at 28.6% of sales) has announced a roadmap for India, including voice processing of its AI-powered assistant...
Retail media: Criteo signs Selfridges and Belk department stores
After losing ManoMano and Boulanger in recent months, retail media specialist Criteo announced on October 8 a new partnership with U.S. department stores’ Belk (2023 sales of US$3.1 billion...
Fashion: second-hand players call for an end to resale taxation
In both the U.S.A. and Europe, federations and players in the circular fashion sector are campaigning for an end to double taxation, especially tax applied to resale margins, which applies to...
8 October 2024
Omnichannel, video, photo: online and in-store, customer reviews are re-inventing themselves
As e-commerce returns to growth, online retailers need to optimise customer reviews to stay ahead of the game. We look at the strategies of Amazon, Shein, Temu, Fnac Darty, Decathlon, Picard...
Richemont takes control of 33% of Mytheresa in exchange for sale of YNAP
On October 7, 2024, Richemont (sales of €20.62 billion in 2023, up 3.3%) announced the sale of Yoox-Net-A-Porter (YNAP ) to German marketplace Mytheresa (sales of €840 million in the...
USA: CVS makes further redundancies and plans to split retail and health insurance businesses
According to CNBC, drugstore retailer CVS Health (sales of US$357.8 billion in 2023, up 10.9%, net margin at 2.3% of sales) has hired consultants to carry out a strategic review of the business...
U.K. With late payments by Prada and Kurt Geiger, the government is tightening the screws
Last month, the British government presented an array of measures to limit late supplier payments and to support SMEs. According to the lobby group Good Business Pays, in 2023, Prada (LVMH) paid...
4 October 2024
Affinity insurances : 18 months’ imprisonment sought for SFAM’s CEO
Already fined €10 million in 2018 by the insurance financial watchdog (ACPR), Mr. Sadri Fegaier was the subject of a request for the maximum sentence at the trial of Indexia (formerly SFAM)...
4 October 2024
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What readers clicked on the most last month.
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US retailers divided over the rise of autonomous shopping agents
In the US, Gap, Walmart, Best Buy, Amazon and eBay are taking very different approaches to agentic commerce. While TV shopping giants QVC and HSN see these new intermediaries as an opportunity to...