| Global retail industry news |  | | |  | - Canada-based Aldo has quietly built a global empire
Canadian consumers are generally familiar with Aldo shoes, but many may not realise that the Aldo Group, founded by Aldo Bensadoun, is a global retail giant with 1,500 stores in more than 55 countries. Bensadoun has quietly built his company through constant reinvention. "You have to be fast and you have to renew yourself constantly," Bensadoun said. "Our strength is to adapt. As the customer is changing, we're adapting to the new face of the customer." The Globe and Mail (Toronto) (06 Sep.)       | Gain Control of Your Most Expensive Resource
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 - Court approves Berggruen's acquisition of Karstadt
An Essen, Germany, court approved the sale of the Karstadt department-store chain to Nicolas Berggruen in a move the brings insolvency procedures to an end. Two groups of creditors have accepted the billionaire's offer for the retailer, but officials warn that challenges will continue. "We all know that Karstadt isn't out of the woods yet," said German Labor Minister Ursula Von der Leyen. "You have a realistic chance now together with Mr. Berggruen to get this company on its feet again." Bloomberg Businessweek (03 Sep.) , The Wall Street Journal (06 Sep.)  | Stop waiting for checks that are "in the mail."
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 - Some retailers in India gravitate toward high street instead of malls
Nilesh Gupta, owner of one of the leading consumer electronics retailers in India, Vijay Sales, drew up a detailed expansion plan last year when the country's economy was beginning to recover. One of Gupta's major decisions was whether to locate his new stores in malls or on the high street. Gupta said he made an intuitive decision to go with the high street, but there are statistics to back up his gut feeling. The Economic Times (India) (05 Sep.) - Cartier Korea aims to broaden customer base
The flagship stores of luxury brands can be intimidating places for many people to enter. Cartier Korea is striving to lure more consumers into its flagship store by easing conceptions that one must be affluent to receive the customer service of the luxury company. "It's all about the experience," said Sarah Kim, managing director of Cartier Korea. "If you go to the Maison, you will be served a beverage whether you buy or not. This is the kind of service you won't get at the department stores. But the problem is not many customers are brave enough to open the door." The Korea Times (06 Sep.)  | With an Information Agenda for Financial Markets in place, companies have many of the tools needed to make the essential transition from simply supporting the business to making a measurable, sustainable contribution to the business' bottom line. This guide supplies the integrated vision needed to help achieve business goals and objectives—and deliver better business outcomes. |
 - Venezuela approves $690 million payment to retail owners
Hugo Chavez, Venezuela's socialist president, has approved a $690 million payment to owners of a supermarket chain he previously nationalised. French retailer Casino is one of the beneficiaries of the payment. "With the acquisition of a majority stake ... the transition to a socialist economic model will be reinforced," according to a statement from the government. "Now the people can buy and eat more." ABC News/Reuters (04 Sep.)  | 50% off Facebook Success Summit for SmartBrief readers.
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 | E-commerce Spotlight |  | | | | Spotlight on Grocery | | | | | NRF News | | | | - Been on vacation? Here's what you missed.
For retail enthusiasts returning to their desks after a long August, NRF's Ellen Davis recaps what you missed. The hottest news in retail last month included an update on back-to-school spending, a list of the fastest-growing retailers in America, and an inspiring story of how one associate's simple gesture transformed an entire store. Read more.
| SmartQuote | | | |  | Education would be so much more effective if its purpose were to ensure that by the time they leave school every boy and girl should know how much they don't know, and be imbued with a lifelong desire to know it."
--Sir William Haley,
British newspaper editor and broadcasting administrator  |
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