Weekly Global Retail News 8th March 2021 By Global Retail TV

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Fix Price :

Russia’s top discount retailer Fix Price has secured $2 billion of investment in the largest initial public offering (IPO) for a Russian company during the sanctions era, the company announced last Friday.

with a valuation of $8.3 billion. FIX PRICE became the second most valuable Russian retail chain, in a market leaded by high competition similar to the supermarkets giant Magnit stores.

Debenhams :

The leading UK online fashion retailer Boohoo Group bought Debenhams for £55 million. The deal includes all Debenhams brand assets. Troubled by the retail transformation in the UK, the Debenhams Operating Profit droped from £190 million in 2010 to £43 million in 2018.

With the Boohoo strategy to turn Debenhams into a market place, The employees will pay the highest cost as 12.000 will loose their jobs.

Amazon :

After the concept success in the US, Amazon first International Cashier-less store is now open in London. With the just walk out concept from Amazon, shoppers will use Amazon app when entering the store, pick up the goods and leave without Queuing or checkout.  Customers account will be charged with the shopping amounts.  By taking this concept internationally, Amazon is aiming to boost shopping experience and convenience for its UK shoppers.

Coles Supermarkets :

What if you can choose the right mix of your dog’s food ? At coles Supermarkets in Brisbane Australia, this new way of selling pets food is a real revolution. The premium pick n mix treats just for dogs will relay on dispensers where you can choose and combine dog’s treats. The possibility to choose and pick the right mix and overcome the offering limits of packed dogs food.

With more than 1500 Dollars spent every year on each Dog, Australia has the pets highest ownership rate in the world.

Reitmans Canada :

The Iconic Canadian Retailer Reitmans has filed for bankruptcy protection under the Companies’ Creditors Arrangement Act. The COVID-19 has deeply impacted Reitmans store operations. According to company, Ernst & Young has been appointed to assist Reitmans in formulating its restructuring plan and save the 6800 Canadian Jobs.

LIFVS Sweden :

The Swedish Startup LIFVS takes the rural shopping to the next level by putting in place unmanned supermarkets. Getting the essential goods as close as possible to rural communities, LIFVS 24h a day automated grocery store offers the possibility to Swedish rural consumers to shop at their convenience with a simple mobile app that allows you to scan products and checkout from the store. With more than 20 stores up and running, the company is aiming for new territories expansion in the months to come.

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