| Global retail industry news |  |
| Global Industry Watch |  |  |
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| Retail in Europe | | |
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| Retail in Asia | | |
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- Lotte Mart plans to open hundreds of stores in China
Over the next several years, South Korea's Lotte Mart is planning to open about 300 new outlets in China. The discount chain is striving to increase its foothold in China's rapidly growing retail sector. Lotte Mart currently operates 82 shops in China. "Lotte Mart views China as a strategically important market after South Korea," according to executives. Bernama (Malaysian National News Agency)
(16 Aug.)     
| E-commerce Spotlight | | |
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- Questions arise about India's e-commerce firms
E-commerce companies in India have experienced enviable growth and been given high valuations, but behind such figures lie questions about their ownership patterns and accounting practices. "In these cases of high Indian valuation, the number seems to be driven by the 'find a greater fool theory' -- where you believe it is okay to value someone at $1 billion because you think you can find a fool who will buy it from you at $3 billion in a few years," said Mahesh Murthy, a venture capitalist. The Economic Times (India)
(17 Aug.)
- Turkey's Trendyol.com receives $26 million in fresh funding
Kleiner, Perkins, Caufield & Byers, a Silicon Valley venture capital firm, has invested $26 million in Trendyol.com, a flash-sale site based in Istanbul. "The new financing will be used for key growth initiatives including enhancing our customer service, investment in operations, increasing member acquisition and further accelerating our growth within Turkey as well as other markets -- all to deliver the best customer experience," said Demet Mutlu, founder and CEO at Trendyol.com. InternetRetailer.com
(16 Aug.)
| Technology Solutions | | |
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- Technology opens avenues for marketing to children
Technology is changing the way products are marketed to children, as companies increasingly reach young audiences through online games and other digital portals. "Our brand ideology is: Think like a mom, see like a kid," said Betsy Schumacher, chief merchandising officer at 77kids. "It made sense to us to have technology in the store that speaks to a kid's experience -- and how they play." USA TODAY
(14 Aug.)
| Spotlight on Luxury Goods | | |
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- China's online luxury retailers turn to venture capitalists
A number of online luxury retailers have entered the market in China since 2009, increasing competition and prompting the need for outside funding. Many are turning to venture capitalists and other funding sources as they strive to expand. "The websites need more money to build themselves up, including working on their service skills, in order to get the trust of luxury brands," said Feng Po, an analyst with ChinaVenture Investment Consulting Group China Daily (Beijing)
(15 Aug.)
| NRF News | | |
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- Ascena Retail Group, Carter's, PETCO CIOs talk business intelligence
In a recent NRFtech '11 panel discussion on business intelligence, CIOs from Carter's, Ascena Retail Group and PETCO shared the challenges and opportunities of cultivating consumer and operations data. The biggest takeaway from the session: Business intelligence is cumbersome, frustrating and confusing. But if you can figure out what all those numbers mean, the payoffs can be huge. Read more.
| SmartQuote | | |
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 | You don't lead by pointing and telling people some place to go. You lead by going to that place and making a case."
--Ken Kesey,
American author
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