  | Global retail industry news |  |
- UK retailers back project to help low earners in India
Primark and New Look are working with Hyberbad-based Geosansar on a project to provide India's low-income consumers with access to banking services. The project, part of an effort by The State Bank of India, helps workers in the factories that supply clothing to the retailers. "This is about re-engineering banking products for the bottom 2 billion," said Ramesh Surapuraju, managing director of Geosansar. Telegraph (London) (08 May.)       - Topshop plans to enter Australian market
Sir Philip Green has taken charge of Topshop's expansion plans and is working to open a store in Sydney, which is expected to lead to further expansion across Australia. In 2009, Topshop's first overseas location opened in New York. The company is looking at opening outlets in Los Angeles, Miami and Chicago. The Independent (London) (08 May.) - Fashion brand Karen Millen prepares for overseas expansion
Karen Millen's international division accounts for about half of the UK fashion retailer's turnover, but proposals for an overseas expansion would see that figure increase significantly. The plan includes launching more stores in France, Spain, Germany and other European nations as well as key growth countries, including South Korea and China. The Daily Mail (London) (07 May.)  | Help protect your employees by managing business travel risks with Zurich's white paper 'Managing the Risks of Business Travel: What every business needs to know'. Click here for the FREE download! |
 - Mothercare moves forward with strategy of closing shops
Mothercare has put more than 120 of its British outlets up for sale after announcing that it will close 30 shops in 2011. The retailer is working with CB Richard Ellis and has circulated a confidential list of shops it plans to shutter and others that are for sale if the price is right. "The issue is that the collapse in UK profits is completely undermining the growth overseas. The UK-overseas imbalance issue is a mess and management are under pressure to sort it out," said Nick Bubb, an analyst at Arden Partners. The Independent (London) (08 May.) - Kuwaiti fund acquires stake in up-market Turkish retailer
Global Investment House of Kuwait is purchasing a stake in Yargici, one of Turkey's top women's apparel retailers. "The investment will support Yargici's growth plans, focused on further penetration in Turkey and entry into major European and Middle Eastern markets," according to a statement from GIH. Yargici is striving to expand into the UK, France and major countries in the Persian Gulf region. Hurriyet (Turkey) (08 May.)  - Private equity fund seeks emerging Asian brands
L Capital Asia fund, which is backed by LVMH, is searching for promising Asian brands that it can turn into global powerhouses. The private equity fund has bought minority stakes in a watch and jewellery company listed in Hong Kong as well as a couple of fashion companies in Singapore. L Capital Asia is also negotiating with companies in China and India, according to its managing partner Ravi Thakran. Google/Agence France-Presse (08 May.)  | If you post something on your brand's Facebook page your fans see it, right? Wrong. What you don't know about Facebook's post ranking system can hurt your social branding efforts. EdgeRank is the way that Facebook grades the relevancy of your posts to your fans. Cut through the mystery of Facebook's EdgeRank - download the White Paper now. |
 | E-commerce Spotlight |  | | | - BMW launches online store on eBay UK
For the first time, BMW is directly offering parts and accessories to consumers through its online shop on eBay UK. BMW owners previously had to place an order for genuine parts through a dealership. "We recognise there are customers who wish to buy BMW products but do not necessarily want to travel to a BMW dealer to make a purchase," said Carl Sanderson, general manager of aftersales development at the German automaker. The Independent (London) (09 May.) - Baidu will start offering free, legal music downloads
Baidu, the largest search engine in China, plans to offer free, legal downloads of copyrighted music through a service called Baidu Ting. "Copyrighted music will be the direction of Baidu's music business in the future, and our music-search service will also be based on legal content," said Catherine Leung, general manager of digital entertainment at Baidu. China Daily (Beijing) (07 May.)   | Spotlight on Mass Merchandise | | | | - Olofsson faces challenges as he aims to turn around Carrefour
When Lars Olofsson took the reins of Carrefour in 2009, he pledged to make the French retailing giant "more agile." Investors, however, appear to be growing impatient with Olofsson's turnaround efforts. He recently took direct control of the company's French operations and he postponed the proposed listing of its property unit. Olofsson is also striving to revamp the retailer's superstores in Western Europe. Bloomberg (06 May.) - Hearings into Wal-Mart's proposed takeover of Massmart continue
South Africa's Competition Tribunal is holding hearings this week into Wal-Mart Stores' proposal to acquire a majority stake in Massmart. The hearings were originally scheduled for March but were postponed due to a variety of issues. Grant Pattison, CEO of Massmart, and Andy Bond, executive vice president at Wal-Mart, are scheduled to appear at the hearing today. Business Report (South Africa) (08 May.) | NRF News | | | | - How secure is your customer data?
According to Forrester Research, in the aftermath of a data security breach, companies experience customer losses of 8 percent to 10 percent. With the proper infrastructure in place, the reputation damage can be avoided altogether. In an upcoming STORES Knowledge Series webinar on May 19, Andrew Wagoner, senior security engineer for Del SecureWorks, will discuss the tools available to detect and prevent attacks throughout your retail environment. Learn more.
| SmartQuote | | | |  | Life is change. Growth is optional. Choose wisely."
--Karen Kaiser Clark,
American motivational speaker and consultant  |
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