Monday, October 25, 2010

25 October 2010 - Australia's online shoppers capitalise on tax loophole

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25 October 2010
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  Global Industry Watch 
 
  • Australia's online shoppers capitalise on tax loophole
    As the Australian dollar reaches parity with the US dollar, more Australians are shopping online as overseas purchases that are less than $1,000 aren't subject to the Goods and Services Tax. The situation has prompted Australian retailers to call for a review of the country's tax laws. The Australian Retailers Association cited research that shows Aussie consumers will spend roughly $12 billion online in 2010 and as much as 45% of that will be spent with foreign retailers. The Sydney Morning Herald (Australia) (24 Oct.) LinkedInFacebookTwitterEmail this Story
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  Retail in Europe 
 
  • LVMH to bolster stake in Hermes to 17.1%
    LVMH Moet Hennessy Louis Vuitton plans to acquire another 14.2% holding in Hermes International, increasing its total stake to 17.1%. "LVMH has no intention of launching a tender offer, taking control of Hermes nor seeking board representation," LVMH said. "The objective of LVMH is to be a long-term shareholder of Hermes. LVMH fully supports the strategy implemented by the founding family and the management team." Bloomberg Businessweek (23 Oct.) LinkedInFacebookTwitterEmail this Story
  • Morrisons to invest in Scottish farm
    Morrisons CEO Dalton Philips said the supermarket giant wants to keep fresh produce at the centre of the company's expansion plans. Morrisons announced that it will invest £2 million in Dumfries House farm, which it will use as a laboratory. Philips plans to use research conducted at the farm to support the retailer's farming suppliers. Telegraph (London) (24 Oct.) LinkedInFacebookTwitterEmail this Story
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  Retail in Asia 
 
  • Japan's Ringer Hut to bolster expansion in Asia
    Ringer Hut, a Japanese quickservice operator, is planning to bolster its number of overseas outlets to 40 over the next couple of years. The retailer is aiming for its overseas operations to contribute about half of its profits in a decade or so. Reports show that Ringer Hut is seeking partners in China, Hong Kong and Taiwan. The company also plans to accelerate its expansion in Japan. ChinaRetailNews.com (25 Oct.) LinkedInFacebookTwitterEmail this Story
  • Pacific Coffee to expand presence across China
    China Resources Enterprise plans to challenge Starbucks in China by launching as many as 1,000 new Pacific Coffee shops. Frank Lai, chief financial officer at China Resources, said the company will open between 50 and 100 Pacific Coffee shops next year in major Chinese cities with a "strong coffee culture". About 90 Pacific Coffee stores are operating in Asia now. Bloomberg (20 Oct.) LinkedInFacebookTwitterEmail this Story
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  E-commerce Spotlight 
 
  • Malicious "bots" create issues for online costume store
    Margot Loveseth's online costume store, www.costumechik.com, was hit by a denial-of-service attack earlier this month, crashing the site for more than a day. The malicious "bots", which are computers that send out nasty spam, have created challenges for the retailer during the Halloween rush. "It broke my heart that someone could so casually take it down at such a crucial time," Loveseth said. Calgary Herald (Alberta) (24 Oct.) LinkedInFacebookTwitterEmail this Story
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  Technology Solutions 
  • Debenhams to offer style, shopping advice via online TV channel
    Debenhams' website will host its interactive TV channel where the retailer will offer fashion and shopping advice and allow consumers to easily purchase goods. Programming will include Debenhams' employees' suggestions, interviews with leading designers and other features. "Our online TV channel is a brilliant way for our customers to get style and beauty advice, see the latest fashions and just be entertained," said Simon Forster, online trading director at Debenhams. MarketingMagazine.co.uk (U.K.) (25 Oct.) LinkedInFacebookTwitterEmail this Story
  Spotlight on Mass Merchandise 
  • Woolworths gains approval to build 10 home-improvement shops
    The Victorian government has given Woolworths, one of the largest retailers in Australia, approval to open 10 new homeware improvement stores, including the right to sell whitegoods. Bunnings, one of the country's biggest hardware retailers, has raised concerns about the approval. "Bunnings believes that there should be a level playing field for all market participants and, as such, has applied to the Victorian government to have planning permits amended and rezoning applied to a number of sites," said John Gillam, managing director at Bunnings. The Sydney Morning Herald (Australia)/Australian Associated Press (25 Oct.) LinkedInFacebookTwitterEmail this Story
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