IKEA invests in Shanghai’s largest Wal-Mart China running online blockchain shopping mall
Having been an early mover in blockchain via a collaboration with IBM, Walmart China is teaming with China Chain-Store & Franchise Association, PwC, Inner Mongolia Kerchin Co., Ltd., and VeChain on a project dubbed the The Ingka Centres Huiju Shanghai Project is Walmart China Blockchain Traceability Platform. VeChain technology located on Fuquan Road and Xiehe Road and underpins the platform, which already cover 23 products. represents the most comprehensive project for IKEA China to date. The plans involve a commercial development with eight floors, and four floors underground. The total construction The platform is expected to scale by another 100 product lines by the end of area is about 437,000 square meters, of which the the year covering more than 10 product categories including fresh meat above-ground construction area is about 179,000 product, rice, mushrooms, cooking oil and more. Walmart is hoping to forge square meters. The subterranean area is about links with government agricultural agencies and local supply chains to 258,000 square meters, and will contain 2,700 increase the level of sophistication and data gathering covered by the parking spaces. project. The Shanghai Ingka Centre will house more than 300 shops alongside catering areas, cinemas, children's play facilities and indoor sports activities. The project is underway and is expected CR Vanguard's first warehouse-style hypermarket opened in to open at the end of 2022. Xinjiang In addition to this development, Ingka Centres already has three shopping malls in China, located in Wuxi, Beijing and Wuhan. Mr. Hui Ding, CEO of Ingka Centres China, revealed that Ingka Centres The CRV Kashgar (in Xinjiang) store opened recently in Kashgar, Uygur is planning two more centers: one in Changsha, Autonomous Region. The assortment covers fruit and vegetables, fresh meat scheduled to open in 2020, and in Xi'an, which will and seafood, grain and oil, snacks, washing supplies, small household open in 2021. appliances, stationery, needles and other supplies more than 15,000 kinds of products. The Kashgar Store is the first warehouse-style hypermarket from China Resources Vanguard. This is an innovative format that integrates wholesale and retail. As a large-scale supermarket, it offers a variety of services such as self-service checkouts and O2O fulfilment. with integration of the local supply chain and logistics infrastructure to introduce more than 380 specialty products plus over 780 bulk goods amid the B2B assortment. The store also boasts 1,100 imported SKUs, with about 570 first-time lines. CRV believes the concept will see more price-friendly and diverse products brought to Kashgar from across the country in a timely manner.
Tmall Global launches English portal for overseas sellers
Tmall Global, Alibaba’s cross-border China eCommerce platform, has inaugurated a new merchant platform in English to make it easier to onboard new brands and retailers to the fast-growing portal. Brands will be able to learn about the site and be guided through the application process to open a flagship store in Tmall Global. To date, Tmall Global’s business development teams have identified brands they believe will appeal to consumers, often at trade shows or by appointment. The new site allows merchants to make their pitch directly to Tmall Global. Tmall says this will significantly reduce the time for applications to be processed. Tmall Global says it plans to launch other versions in addition to English, such as Spanish, Japanese and Korean, in the future. RETAIL NEWSLETTER
Volume 238 / Jun 27, 2019
Amazon opens a professional beauty store
Amazon announced on Monday that it has launched the "Amazon Professional Beauty Store" for beauty professionals. Amazon said that through the online retail store, beauticians and salon professionals can find the products they need at a more favorable price and with more convenient delivery options offered. As the portal only targets professionals, Amazon requires buyers to show they hold appropriate credentials, such as a beauty, hairdresser or beautician license issued by the state.
Wumart takes stake in Chongqing department store
Chongqing Trading Company (Group) Co., Ltd., the controlling shareholder of Chongqing Department Store, announced its reform plan for mixed ownership. Under the scheme, Wumart has injected 45% equity by way of a capital increase, and added 10% equity from the Better Life Group. After completion, ownership of Chongqing Trading Company will be divided by 45% holding by Chongqing State-owned Assets Supervision & Administration Commission, 45% by Wumart Group, and 10% of Better Life Group. This significantly changes control of Chongqing Trading Company and Chongqing Department Store with no single shareholder able to achieve full control of the business or the Chongqing operation.
Sunlon acquires stake in Lawson (Beijing)
According to the Antitrust Office, dairy producer Sunlon has acquired equity in Lawson (Beijing) and is undertaking a disclosure process. The announcement stated that Sunlon and Lawson (China) have agreed a "joint venture contract", intending to increase the flow of capital to Lawson (Beijing). Upon completion of the transaction, Sunlon will hold a 35.21% stake in Lawson (Beijing) and share control of the business with Lawson China. On 28 March this year, CAG subsidiary Sunlon signed a strategic cooperation agreement with Lawson China to develop the latter’s fresh and convenient retail business. The parties will combine expertise to accelerate the growth of Lawson Beijing convenience stores, explore fresh convenience store operational models and, following testing and optimization, will begin to build a community retail network covering the Beijing urban area, with eventual plans to expand to Northern China and beyond.
Coca-Cola and Mengniu become Olympic joint global partners； L'Oreal China's new CEO to begin work from 1 July
The International Olympic Committee (IOC) has announced that Coca-Cola and Chinese dairy giant Mengniu have become Olympic joint global partners, with the deal set to last until 2032. The agreement is the first Joint TOP agreement in Olympic histor y to combine non-alcoholic beverages and dairy products into a new joint category. According to the long -term cooperation agreement, the joint global partnership agreement will also include the Paralympic Games and the Youth Olympic Games marketing rights. Via the agreement, Mengniu becomes the first Chinese FMCG company to become a TOP Partner.
L'Oréal, the world's largest beauty group, has announced that Fabrice Megarbane will become the new CEO of China. Current incumbent Stephane Rinderknech will be promoted to other important positions within the group. L ’Oreal will provide further information in the near future. Megarbane will officially take up the CEO role on 1 July 2019, and will also join the L'Oreal Group Management Committee. Meg arbane joined L'Oréal in 2000 and was appointed General Manager of L'Oréal Lebanon in 2008. After an outstanding performance, he was promoted to GM of the Group's cosmetics division in Africa and the Middle East, and was later appointed as GM of L'Oréal Germ any.
Kantar is home to some of the world's leading research, data and insights expertise. Collectively, our 30,000 employees offer the most Scan the QR Code to follow us on WeChat complete view of consumers – the way they think, feel, shop, share, vote and view – in over a hundred countries worldwide. For the Subscribe the Newsletter benefit of our clients, Kantar connects these specialists as well as by sending request to: providing access to the wider WPP group of companies and other partners. [email protected]