In a first for South Korean investment in the UK, an investment group has acquired a retail park in the West Midlands for £175m, despite the generally unfavourable atmosphere for the UK bricks and mortar retail sector.
A key monthly UK retail report for June seems to show that British shoppers are still turning away from physical stores and that a slight recovery seen in June in year ago was just a flash in the pan.
Abercrombie & Fitch has entered into a global partnership with Sbe, the lifestyle and hospitality company behind nightclubs, hotels and restaurants such as SLS Hotels, Mondrian, Umami Burger and Doheny Room Skybar.
Canadian retailer Hudson’s Bay Co. has responded to reports that it is selling half of its European business to Signa, confirming that the companies are in talks but denying that a definitive agreement has been reached.
A deal between Carrefour and Tesco to team up on global purchasing will help them not only cut prices but also expand their own-label ranges, tightening a squeeze on major brand producers such as Nestle and Kraft Heinz.
A Dubai-based tech firm has announced an ambitious online mall project with Mall.Global intending to “give traditional e-commerce a facelift by incorporating immersive technologies and operational practices.”