Australia’s biggest department store chain, Myer Holdings Ltd, cut its growth targets on Wednesday as it battles intensifying competition and a rebellion from its biggest shareholder, sending its shares sharply down.
Saks Fifth Avenue owner Hudson’s Bay Co said on Wednesday it had received a bid for its German department store chain Kaufhof from Signa Holding, the Austrian property and retail group that owns Karstadt.
Value Retail, the company behind some of the world’s most successful luxury outlet centres, has launched China’s largest mobile payment method Alipay to give its Chinese consumers an easy and safe way to make payments.
One of India’s largest home textiles manufactures Trident is looking to expand its retail presence in the country by doubling its point of sales and expects to be a Rs 1000 crore (approx $154 million) brand by 2020.
Amazon is delivering a direct blow to Etsy with the announcement of its Handmade Gift Shop. Serving as a separate storefront, it stocks thousands of handcrafted items for special celebrations and milestones.
IKEA reported full-year earnings of EUR 34.1 billion, and plans to test “open-source” design and full-range town-center showrooms as part of its efforts to adapt to rapidly changing consumer shopping habits.
In order to celebrate 15 years of fair trade in Cincinnati, the Part of the Story event will see the Ten Thousand Villages of Cincinnati project showcase their fair trade designs with the city’s Cultural Centre of India.
The luxury French jewellery and watch brand has just launched it new product line, “Home Objects Collection by Cartier”, which will be available exclusively in the brand’s India, Dubai, and Abu Dhabi stores.