German wholesaler Metro has agreed to sell a majority stake in its Chinese operations to local retailer Wumart, continuing a drive to simplify its business and focus on its core customers in the hospitality industry...
Walmart plans to spin off PhonePe from Flipkart
Global retail major Walmart Inc is planning to demerge PhonePe, the payment system and digital wallet company of Flipkart, so that its ownership will be vested directly with the US retail giant, two people familiar with...
Amazon seeks CCI nod for its Rs 1,500 crore Future Coupons Ltd deal
Amazon has sought Competition Commission of India (CCI) approval for its proposed Rs 1,500 crore deal to acquire 49% of Future Coupons Ltd (FCL), a Future Retail promoter group company, even though it doesn’t have to...
Forever 21 fashion chain files for Chapter 11 bankruptcy
Low-price fashion chain Forever 21, a one-time hot destination for teen shoppers that fell victim to its own rapid expansion and changing consumer tastes, has filed for Chapter 11 bankruptcy protection. The privately...
Trent to acquire 51% stake in Booker India
Tata group’s retail chain Trent Ltd will acquire 51 per cent stake in Booker India Pvt Ltd (BIPL) in a cash deal of around Rs 22 crore, a regulatory filing said. Trent in the filing to BSE on Tuesday said the...
Amazon unlikely to add Reliance Retail stake to its shopping cart
Amazon’s plan to acquire stake in Reliance Retail has likely fallen through due to the high valuation of Mukesh Ambani’s retail business and the American ecommerce giant might have also demurred from such large...
Virtuous Retail acquires three malls for $500 mn
Virtuous Retail South Asia Pte. Ltd (VRSA), the retail development joint venture between alternative investment firm The Xander Group Inc. and Dutch pension fund APG, has acquired two existing malls and an upcoming...
Casino in talks to sell discount chain Leader Price to Aldi
Debt-laden French retailer Casino is in talks to sell its French discount store chain Leader Price to German low-cost rival Aldi, Casino said on Thursday. The move, which confirms a report by French daily Les Echos...
Yahoo Japan bids for control of fashion e-tailer Zozo for $3.7 billion
Yahoo Japan Corp said it will take over Japan’s biggest online fashion retailer Zozo Inc for 400 billion yen ($3.7 billion), seeking to breathe fresh life into the business and compete better against the likes of Amazon...
Patanjali to infuse Rs 3,438 crore in Ruchi Soya to settle dues
Baba Ramdev-led Patanjali Ayurved, which got the NCLT approval last week to acquire Ruchi Soya in an insolvency process, will infuse over Rs 3,438 crore as equity and debt to settle dues of creditors of the debt-laden...
Mukesh Ambani targets more retail acquisitions abroad
Reliance Industries Ltd is looking to buy fashion and child-focused retailers abroad and partner with global sports and beauty brands as part of its expansion into consumer markets, a top executive told Reuters. Under...
Temasek shelves plan to sell $3 bn minority stake in AS Watson
Temasek Holdings Pte is postponing the sale of a minority stake in AS Watson Group, the retailer backed by Hong Kong tycoon Victor Li, as months of anti-government protests continue to rock the city, people with...
