  | Global retail industry news |  |
- Girard-Perregaux to expand in South America, US
Swiss watchmaker Girard-Perregaux is looking to reduce its reliance on China and Europe by expanding in South America and the US. Stefano Macaluso, managing director of the 220-year-old watch brand, said that European consumers no longer consider watches a "priority." Bloomberg (25 Aug.)       - Retailers see Europeans reining in spending on basics
Dutch grocer Ahold, the UK's Co-Operative Group and other retailers in Europe say consumers are cutting back on basic items as they grow increasingly concerned about the economy. An executive at the Co-Operative Group said the consumer environment is the most difficult seen in more than four decades. Reuters (25 Aug.), The Guardian (London) (25 Aug.) - Retail sales in UK slid in first two weeks of August
Retailers in the UK saw the volume of goods sold drop in the first two weeks of August as consumers cut spending. Fashion chains experienced some of the largest hits, partially due to rising prices. "August was a tough month on the high street," said Judith McKenna of the CBI distributive trades panel. "Consumers have continued to see their real incomes squeezed by a combination of inflation and weak wage growth." The Telegraph (London) (25 Aug.), The Guardian (London) (25 Aug.), Bloomberg (25 Aug.)  | Making a big change starts with keeping a small promise.
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 - Tesco raises funds through bond sale to fund expansion
Tesco has raised about $114 million through a renminbi-denominated bond sale in Hong Kong. The British retailing giant plans to use the funds raised to expand in China. "China is an important market for us and represents a great growth opportunity. This is a new and innovative way of funding our business as it continues to grow and demonstrates our commitment to China," said Laurie McIlwee, chief financial officer at Tesco. Reuters (25 Aug.) - China is key to Wal-Mart's global strategy, executive says
Wal-Mart Stores, which had more than 70 outlets and 30,000 employees in China in 2007, has been on an expansion drive. "Since 2007, Walmart China has been maintaining double-digit growth, and now, four years later, we have more than 300 stores and 95,000 employees in the country," said Ed Chan, president and CEO of Walmart China. The retailing giant plans to continue its expansion in China, focusing on the country's smaller cities. "I believe the lower-tier cities will see faster economic development than first-tier ones. So, Walmart China will increase its investment in lower-tier cities," Chan said. China Daily (Beijing) (25 Aug.)  - Indigo aims to transition into full lifestyle retailer
Indigo Books & Music, the largest chain book retailer in Canada, is aiming to reverse a slide in its sales by morphing into a lifestyle accessories merchant. "We are very pleased with the growth in our digital business, but in the short term our retail business will be challenged," said Indigo CEO Heather Reisman. "We are confident that our strategy to transition to become a full lifestyle retailer will bear fruit." InternetRetailer.com (25 Aug.) - Indian entrepreneurs try hand at online grocery sales
India has started to embrace online sales of gadgets, books and other items, and now some young entrepreneurs are tackling the grocery sector. However, they are finding that online grocery sales present a variety of challenges. "Grocery is the most well-distributed category through physical retail," said Kanwaljit Singh, senior managing director at Helion Advisors. "While the gross margin in books and apparel is 25-50%, grocery offers 10-15%. That's why the early wave (in e-commerce) was not in this space." The Economic Times (India) (26 Aug.)  | Are you keeping up with the changing world of employee health care? Get The Basics of Employee Health Care for Small Business: A Guide to Creating a Company Benefit Plan, and find out what you need to know today. There's no obligation. Click to download a complimentary whitepaper. |
 | Technology Solutions |  |  | | | Spotlight on Fashion | | | | - Inditex CEO strives to ramp up online efforts
Pablo Isla, CEO at Inditex, is overseeing an expansion of the company through both new physical store locations and the company's online presence, an area where it lags behind its peers. Almost a year ago, Index launched Zara shopping sites in the UK, Portugal, Spain, Germany, Italy and France. This year, it plans to tackle the US. Bloomberg Businessweek (25 Aug.) | NRF News | | | | - Crate & Barrel's business case for alternative IT infrastructure
Crate & Barrel is undertaking a significant transformation initiative to improve analysis tools and the customer experience. At the upcoming ARTS Users' Conference, to be held Sept. 27-29 in Orlando, Crate & Barrel Chief Transformation Officer Edward Rennemann will discuss building the business case to launch the initiative. The conference and workshop is open to both retailers and solution providers. Learn more.
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