retailtrade
Ocado has recently announced that it will start a trial this month selling everyday items such as rice, pasta, and laundry detergent in refillable vessels and packaging. This move comes as the online grocer attempts to accelerate its progress in reducing single-use plastic. The items, which will fall under the Ocado Reuse brand, will be delivered to customers in reusable containers, with empty containers picked up by drivers on the next delivery. Once these are inspected and cleaned, they will be filled and delivered again. As of now, the trial is operating in two phases, with the first phase ...
Euronews (English)
This year marks the 70th anniversary of Frida Kahlo’s death. The defiant, boundary-breaking artist inspired generations of creatives and propelled Mexican art into the spotlight. But sometimes it seems like her greatest legacy is the merchantability of her face - and those eyebrows. Stylised and simplified, Kahlo’s likeness can now be found on t-shirts, tote bags, eye masks, phone cases, oven mitts and plant pots. So what is it that has made her appearance so marketable? What is Fridamania?It is not uncommon to find an artist’s self-portrait printed onto an item of clothing, bag or accessory. ...
Euronews (English)
On the cusp of the Olympics, popular athleisure brand and official Team Canada outfitter Lulumon has been accused of greenwashing in France. Canadian environmental campaign group Stand.earth filed a legal complaint yesterday based on the retailer’s ‘Be Planet’ campaign, which it says contradicts the company’s climate record. This follows a similar legal complaint in Canada, and recent protests at Lululemon shops including at the company’s flagship Vancouver store. “We are asking French officials to investigate how Lululemon can claim to ‘Be Planet’ while creating more planet-harming emissions ...
Euronews (English)
The Body Shop’s French subsidiary could potentially face closure, with the company already in receivership and being left with only one bid to take it over. This bid is also unlikely to be much help, as it is only for a partial takeover. Unless more buyers are forthcoming soon, the company will be facing compulsory liquidation. The Body Shop revealed that it had entered administration on 13 February 2024, and has been struggling since then, with several store closures and staff redundancies. However, the chain is still trading as of now, albeit at a reduced capacity, with the online site limpi...
Euronews (English)
The European Commission is preparing to apply customs duties on cheap products coming from China, according to three sources cited by the Financial Times. Under current rules, goods under €150 can be imported into the bloc duty free from non-EU countries. For products over this threshold, the percentage or rate varies depending on the type of goods. The move, said one source, is intended to combat an influx of low-quality products imported from Chinese online marketplaces Temu, AliExpress, and retailer Shein. 2.3 billion items below the €150 threshold were imported into the EU last year, accor...
Euronews (English)
Sainsbury's will sell the majority of its banking division to NatWest. The assets to be taken over by the UK lender include £1.4 billion (€1.6 billion) in unsecured personal loans, £1.1 billion (€1.3 billion) in credit card balances and about £2.6 billion (€3 billion) of customer deposits. The deal will boost NatWest's customer numbers by about one million, supporting its strategy to move further into retail banking. Sainsbury's Bank brand, its ATMs, insurance and travel money businesses are not part of the agreement. Neither is Argos Financial Services. Commenting on the decision, Sainsbury's...
Euronews (English)
Fashion giant Shein is on the verge of secretly filing a London initial public offering (IPO) prospectus with the Financial Conduct Authority (FCA), according to a report from Sky News. If so, it would be one of the biggest IPOs to launch on the UK stock market in the past few years. Shein has kept secret most of the details of its upcoming public launch but, if true, the company, reportedly valued at around £50 billion (€58.7 billion), could start being publicly traded in summer or early autumn. Shein turned to the UK stock market after efforts to go public in the US ground to a halt when US ...
Euronews (English)
Commerce platform Shopify has transacted over $1 trillion (€921.4 billion) of gross merchandise volume (GMV) since its founding in 2006. What started out as a company to support small businesses has grown into a retail giant, with brands like Mattel, Glossier and most recently, Ami Paris joining the platform. High fashion brands that had traditionally declared “we're never going to sell online” are now exploring e-commerce too. Does this spell the end of high street shopping? In this episode of The Big Question, Hannah Brown sits down with Harley Finkelstein, the president of Shopify, to discu...
Euronews (English)
FTSE Russell recently announced the indicative changes to its FTSE 100 and FTSE 250 indices, which could come into effect in its upcoming quarterly reshuffle. These potential changes have been compiled based on data as of Friday 24 May. However, the final changes are expected to be announced on Wednesday 5 June, based on the official review using data as of market close on Tuesday 4 June. Reshuffles usually take place in March, June, September and December, when the index provider reviews components’ market capitalisation figures. Based on this, FTSE 100 companies which have seen their market ...
Euronews (English)
Retailer Galeria Karstadt Kaufhof has once more been rescued from the brink of insolvency after facing its third bankruptcy in less than four years. Galeria's creditors have voted in favour of restructuring measures, which insolvency administrator Stefan Denkhaus branded as the only means to avoid a break up. The path is now clear for a consortium takeover in July, involving US private equity firm NRDC and BB Kapital SA, a company owned by German entrepreneur Bernd Beetz. The latest rescue attempt comes at a high price as the number of store locations are set to be reduced and staff levels cut...
Euronews (English)
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