USA: Ikea wants to take advantage of falling valuations and acquire more malls Europe While e-commerce has plateaued at around 25% of sales for the past 2 years, Ingka Group (total sales €47.6 billion in 2023,…
South Korean group Lotte conquers Vietnam Asia Having withdrawn from the Chinese market, South Korean conglomerate Lotte is increasing investments in Vietnam, like other rivals. On September 23rd,…
Travel retail: the LVMH subsidiary DFS invests in a large luxury mall in Hainan Asia On 1st October, travel retail specialist DFS Group announced plans to open an ultra-luxury shopping centre in Sanya on Hainan island by 2026.…
USA: Macy’s wants to triple small format stores Americas Macy’s (sales of US$5.1 billion in Q2 2023, up by 8% year-on-year) is stepping up expansion focused on small formats.…
U.K. Will duty-free shopping for foreign tourists return soon? Europe The scheduling of a parliamentary debate on 7 September 2023 on the reintroduction of duty-free shopping in the U.K.…
Following Central Retail, Aeon invests massively in Vietnam Asia Following in the footsteps of Aeon and Central Retail, who are boosting investments in Vietnam, many Western retailers are willing to enter this market of almost 100 million potential customers.
China: Harrods targets the ultra-rich with a private club in Shanghai Asia On 17 July, Harrods announced the evolution of “The Residence” concept (launched in 2020) with the creation of a private club for ultra-rich customers.…
Unibail-Rodamco-Westfield continues to reduce debt and refocuses on Europe Europe Five years after the acquisition of Westfield, URW is accelerating a sale of assets in the U.S.A. to reduce debts.