Finland: S Group sees sales up 9% in first half of 2022
Finnish retail and business conglomerate S Group has reported a 9% increase in retail sales in the first half of 2022, to €6.42bln, with its performance ahead of pre-COVID levels. The group continued to invest in its online grocery proposition in the period, it said, with its S-kaupat.fi service now available from 250 grocery stores.
China: Alibaba's Freshippo seeks funds at much lowered $6bln valuation
Alibaba's supermarket chain Freshippo is seeking to raise funds at a valuation of about $6bln, much lower than a hoped-for valuation of up to $10bln earlier this year, three people familiar with the matter told Reuters.
India: Wheelocity raises $12mln in funding led by Lightspeed, Anicut Capital
Fruits & vegetables (F&V) supply chain start-up Wheelocity raised $12mln in its series A round of funding, a mix of equity and venture debt, led by Lightspeed, Anicut Capital, and other investors. Selvam VMS, Founder and CEO of Wheelocity said in a statement: “India is a fresh-food surplus country - and despite that while on one hand we dump/lose hundreds of thousands of tonnes of F&V every day due to supply chain inefficiencies, on the other hand, studies indicate more than 33mln Indians are undernourished. Clearly, there is a massive problem to be solved by building the rails for fresh produce in India, and we are excited to be backed by Lightspeed & Anicut to solve this at scale.”
Airlift, Pakistan’s top startup, shutting down following funding crunch
Airlift, Pakistan’s top startup, is shutting down in a move that has sent shockwaves to the nascent but fast-growing ecosystem in the South Asian market. Airlift operated a quick commerce service in eight Pakistani cities, including Lahore, Karachi and Islamabad. Users could order groceries, fresh produce and other essential items, including medicines, from the Airlift website or eponymous app and have it delivered to them in 30 minutes.
JD.com ranks No.7 on 2022 FORTUNE China 500 list
For the first time, JD.com ranked among the Top 10 on the list of FORTUNE China 500, moving up 4 places to No.7, according to the 2022 edition of the annual list released by FORTUNEChina.com.
Local entrepreneurs in Poland need more support, study finds
Supporting Polish companies and local entrepreneurs is particularly important when prices are rising and the economy is slowing down, a recent report by Eurocash has unveiled. The Równi w Biznesie report (Equal Business Ranking) prepared by the retailer has shown that small local businesses struggle with discriminatory terms of cooperation compared with discounters and centrally managed retail chains.
China regulator fines Alibaba, Tencent for disclosure violations
China has imposed fines on technology giants Alibaba and Tencent as well as a range of other firms for failing to comply with anti-monopoly rules on the disclosure of transactions, the country's market regulator said.
US: Dollar General CEO Todd Vasos to step down, insider Owen to take over
Dollar General Corp said that Todd Vasos will step down as the discount retailer's chief executive officer and will be succeeded by long-time executive and operations head Jeffery Owen.
Amazon's smart grocery carts are coming to some Whole Foods stores
Amazon is expanding its smart shopping carts to a Whole Foods store in Massachusetts, the company said. Amazon will initially roll out Dash Carts at a Whole Foods in Westford, Massachusetts, northwest of Boston, in the coming months, before launching the technology at additional locations.
US: Food City partners with DoorDash to continue e-commerce expansion
Food City, Abingdon, Virginia, is expanding its partnership with DoorDash in 117 stores in the following five states: Alabama, Georgia, Kentucky, Tennessee, and Virginia.
US: The Top 10 summer foods, according to Instacart
According to recent data from Instacart, barbecue staples and fresh summer produce are top of mind for many American consumers during the warmest months of the year. Instacart's trends expert Laurentia Romaniuk explained: "The summer months come with many delicious traditions and foods that people look forward to eating all year - most notably the bounty of peak-season fruits and vegetables, including everything from juicy stone fruits and refreshing watermelon to crunchy sweet corn and lush tomatoes".
US: Walmart to electrify its delivery fleet with Canoo EVs
Walmart Inc has struck a deal with Canoo Inc to buy 4,500 electric vehicles as part of the U.S. retailer's goal to achieve net-zero emissions by 2040, the companies said.