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Co-op partners with Deliveroo Express

Co-op partners with Deliveroo Express on fast grocery delivery

Supermarket chain Co-op has become the first UK grocer to partner with Deliveroo Express, rolling out the delivery platform’s new white label logistics solution to provide quick and convenient online deliveries.

Using Deliveroo’s back-end tech infrastructure and extensive rider network to fulfil orders from hundreds of Co-op sites nationwide, customers will be able to order items and have them delivered in as little as 60 minutes, according to Deliveroo.

Suzy McClintock, VP of new verticals at Deliveroo, said, “We’re thrilled to continue our partnership with Co-op as they adopt our white label delivery solution, supporting fast and reliable on-demand deliveries through their existing website.

“Deliveroo Express is the next step in our mission to transform on-demand delivery, ensuring we remain the partner for growth, for grocers and retailers alike, helping them reach more consumers through their own online channels.”

Co-op was Deliveroo’s first major grocery partner when it launched its grocery business in 2018. Most recently, Deliveroo launched Co-op’s membership benefits on the app, enabling Co-op members to benefit from member price savings on their orders through Deliveroo.

Chris Conway, Co-op quick commerce director, commented, “Growing our quick commerce channel is a core part of our strategic approach, and I am delighted to build on our long-standing and successful partnership with Deliveroo.

“Working together we are focused on meeting the evolving needs of shoppers. This includes making the fast and reliable delivery of Co-op groceries available to more communities and creating value through member price savings as we see consumer appetite for quick and convenient grocery delivery from their local Co-op continue to grow.”

Author Credits- HAZEL KING
Parcel and postal technology INTERNATIONAL

jd.com to buy ceconomy

China’s JD.com to buy Germanys Ceconomy in deal valuing it at $2.5 billion

DUESSELDORF, Germany – JD.com (9618.HK) is acquiring Germany’s Ceconomy (CECG.DE) in a deal that values the electronics retailer at 2.2 billion euros ($2.5 billion), allowing one of China’s largest online retailers to expand outside of its home market.

Ceconomy’s MediaMarkt and Saturn brands will give JD.com, which competes with Alibaba (9988.HK) and Amazon (AMZN.O), access to one of the largest online shops for electronic goods in Europe and a network of about 1,000 stores in several European countries. About 50,000 people work at the two chains.

The deal, announced on Wednesday, values Ceconomy at 4.60 euros a share and CEO Kai-Ulrich Deissner told Reuters it would likely be completed in the first half of next year.

“It’s exactly the right partner at the right time,” Deissner said. “Through the partnership, we have access to technologies, world-leading retail expertise, and supply chains that are unparalleled worldwide.”

JD.com’s Hong Kong-listed shares dropped 2.4% shortly after Thursday’s market open. Ceconomy shares in Frankfurt surged 6.9% on Wednesday.

Ceconomy’s management board and supervisory board will recommend accepting the offer to shareholders, it said in a statement. Its Duesseldorf headquarters would remain, it said.

JD.com has accelerated its global push in recent years. In 2022 it rolled out the omnichannel retail brand Ochama in the Netherlands, and in April it began a pilot run of its UK online marketplace Joybuy.

“We will work with the team to strengthen the capabilities, while applying our advanced technology capabilities to accelerate Ceconomy’s ongoing transformation,” said Sandy Xu, CEO of JD.com, in a statement.

“Our goal is to further grow Ceconomy’s platform across Europe and create long-term value for customers, employees, investors and local communities.”

The Kellerhals family, the largest single shareholder of Ceconomy with just under 30% of the shares, has accepted an offer for 3.81% of its shares and intends to remain an investor with a stake of approximately 25.35%.

Shareholders Haniel, Beisheim, BC Equities, and Freenet (FNTGn.DE) which together control approximately 27.9% of the shares, intend to sell their shares to JD.com.

“There will be no compulsory redundancies for three years following the closing of the transaction,” Deissner said,

adding that he does not anticipate any major problems from antitrust authorities.

RATINGS BOOST

Europe is emerging as a hotspot for Chinese deals and investments and the region is expected to attract more money from China driven by U.S. President Donald Trump’s tariff war, said advisers.

Deals into Europe more than doubled to $8.45 billion in 2024, the highest since 2021, and made up more than a third of all China outbound M&A, according to LSEG data, despite increased scrutiny of foreign investments into the region.

“There’s potentially more of an incentive for China and the EU to work closer together on the economic front, in view of the trade policies of the Trump administration,” said Alan Wang, a global transactions partner at law firm Freshfields.

Ceconomy plans to keep its 23.4% stake in French retailer Fnac Darty (FNAC.PA) after the JD.com deal, Deissner said.

“The stake in Fnac Darty will remain. We view it as a long-term strategic option, which we are committed to,” he said.

Ceconomy last week confirmed it was in advanced negotiations over a potential takeover.

Ceconomy had annual sales of 22.4 billion euros in its 2023/24 financial year, of which 5.1 billion euros were online.

JD.com had looked at an acquisition of British electronics retailer Currys (CURY.L) last year.

Fitch Ratings said on Wednesday the takeover could bolster Ceconomy’s credit profile.

“A takeover by JD may lead to an upgrade of Ceconomy’s rating, benefitting from JD’s stronger credit profile, given the latter’s market position as one of the largest global e-commerce platforms with $160 billion revenue providing services across retail, technology, logistics, and healthcare sectors,” it said.

“We believe that the acquisition of Ceconomy would boost JD’s presence in Europe through the former’s over 1,000 stores under MediaMarkt and Saturn brands, and its online presence (24% of sales),” it added.

Author Credits- Matthias Inverardi and Matthias Williams
Reuters

Maggie Gauger

Athleta appoints Maggie Gauger as president and CEO

Gap Inc.-owned activewear label Athleta has named Maggie Gauger as global brand president and CEO.

In this role, effective August 1, she succeeds Chris Blakeslee, who will step down and remain with the company temporarily as an advisor to ensure a smooth transition.

“We are thrilled for Maggie Gauger to join as CEO of Athleta as we look to accelerate the brand’s reinvigoration. Maggie blends proven business transformation capabilities, deep consumer centricity, product fluency, and a heartfelt commitment to empowering women and girls. This combination of skills and experiences will equip her to lead Athleta into its next chapter of growth – rooted in purpose, performance, and people,” said Gap Inc. CEO, Richard Dickson.

Gauger joins the performance lifestyle brand with more than two decades of leadership experience at Nike, where she most recently led the North America women’s business. Gauger’s track record spans retail, strategy, merchandising, product creation, commerce, digital, and general management.

“I’m energized to bring my experience working at the intersection of sport, style and culture to Athleta – a brand with strong purpose and still so much untapped potential,” said Gauger. “Athleta has an unwavering mission focused on the power of women – not just as athletes, but as leaders, creators, and change-makers. And I can’t wait to work with the incredible Athleta team to grow, to lead, and to inspire the next generation through the power of product and community.”

Her appointment marks a significant step in Gap Inc.’s strategy to reinvigorate its portfolio of iconic American brands.

Author Credits- Jennifer Braun
FASHION NETWORK

paypal

PayPal shares drop 10% as CEO eyes softer retail spending due to global tariff war

PayPal Holdings Inc. shares dropped 10% after the firm posted slower growth in payment volume and executives said they were seeing softer retail spending due to the US tariff wars. Shares were trading 7.8% lower at $72.13 at 10:15 a.m. (EDT).

(Bloomberg) — PayPal Holdings Inc. shares fell the most in almost six months after reporting slower growth in payment volume, and company executives said they were seeing softer retail spending as a result of the US tariff wars.

“We did see a slight deceleration” in consumer spending, Chief Financial Officer Jamie Miller said on a call with analysts Tuesday, saying goods made in China were taking a particular hit.

PayPal-branded checkout volume increased by 5% in the quarter, down from a 6% increase in the first three months of the year, PayPal said in a presentation Tuesday. The macroeconomic environment and consumer spending has been uneven, PayPal Chief Executive Officer Alex Chriss said on the call, with less robust US spending at businesses most hit by tariffs, such as Asia-based merchant.

PayPal shares slumped as much as 10%, the biggest intraday decline since Feb. 4. They were down 7.8% to $72.13 at 10:15 a.m. in New York.

San Jose, California-based PayPal has attempted to make the brand more prominent, an effort that’s started to bear fruit. The firm raised its outlook, saying it now expects this year’s per-share adjusted earnings to be $5.15 to $5.30 this year, up from a previous forecast of $4.95 to $5.10, PayPal said in a statement Tuesday.

Chriss has been investing in unifying the once-sprawling enterprise. While the strategy hasn’t enjoyed uninterrupted success, revenue gains allowed PayPal to also raise its outlook for transaction margin dollars, which represents how much the company earns from processing transactions after expenses.

That metric, a key measure of Chriss’ success in moving the company into sustained profitability, is now expected at $15.35 billion to $15.5 billion this year, up from a previous forecast of $15.2 billion to $15.4 billion.

PayPal reported a 7% increase in second-quarter transaction margin dollars, which climbed to $3.84 billion.

“We delivered another quarter of profitable growth, driven by continued strength across many of our strategic initiatives,” Chriss said in the statement.

Adjusted net income was $1.37 billion for the second quarter, up 10% from a year earlier. And adjusted diluted earnings per share of $1.40 topped Wall Street analyst estimates.

Under the CEO’s leadership, the firm has focused on monetizing its existing businesses and leveraging the PayPal brand both in person and online. Venmo revenue, for example, increased 20% in the quarter, the company said in a presentation.

PayPal reported $443.5 billion in total payment volume during the second quarter, beating analyst estimates of $435.7 billion.

PayPal recently announced a platform to enable customers to use their domestic digital wallets to make purchases globally, and the company will allow businesses to accept more than 100 different cryptocurrencies at checkout.

In June, PayPal also added a new credit card to its roster to bolster its in-person checkout presence.

News Credits- mint

decathlon

French sports goods seller Decathlon to double India sourcing to $3 billion in 5 years

France’s Decathlon aims to double the share of goods sourced from India to $3 billion over the next five years, the sporting goods retailer said on Tuesday, expanding its footprint in the world’s most-populous country.

By the end of 2030, the company will source 15% of its goods from the Asian nation, with the growth driven by “high-potential” categories such as footwear, fitness equipment, and technical textiles to meet the evolving demands of both Indian and global markets, the retailer said.

Decathlon, which entered India in 2009, sells a host of sports accessories ranging from footballs and yoga mats to bicycles and exercise equipment in the country, cashing in on the growing interest in fitness and an active lifestyle.

It competes with Nike (NKE.N), Adidas (ADSGn.DE), Puma and local brands in India’s sports goods market, which is expected to grow 69% to $6.6 billion from 2020 to 2027, according to industry estimates.

The company said it will create more than 300,000 direct and indirect jobs in India over the next five years.

News Credits- Reuters

EU says Temu in breach of rules to prevent sale of illegal products

The European Commission on Monday said Chinese online marketplace Temu was breaking EU rules by not doing enough to prevent the sale of illegal products through its platform.
The EU’s findings could ultimately lead to a fine of up to 6% of Temu’s annual global turnover, the Commission said.
“Evidence showed that there is a high risk for consumers in the EU to encounter illegal products on the platform,” it said in a statement about Temu.
“Specifically, the analysis of a mystery shopping exercise found that consumers shopping on Temu are very likely to find non-compliant products among the offer, such as baby toys and small electronics.”
The Commission said Temu’s risk assessment was inadequate as it was based on general industry information, not on the specifics of its platform.
It said that if the Commission’s preliminary findings were ultimately confirmed, Temu would be found in breach of the Digital Services Act.
“Such a decision could entail fines of up to 6% of the total worldwide annual turnover of the provider and order the provider to take measures to address the breach,” it said.
Temu can respond to the EU’s findings in the coming weeks, an EU spokesperson said, without giving an exact deadline.
A Temu spokesperson said the company would continue to “cooperate fully” with the Commission.
The findings relate only to one aspect of a broader ongoing EU investigation into Temu, the Commission said.
Temu is also suspected of breaching EU rules relating to the use of addictive design features, the transparency of its recommendation systems and its access to data for researchers.

News Credits- Reuters

Ray-Ban maker posts strong Q2 as Meta invests in growth

EssilorLuxottica, the world’s largest eyewear group and owner of Ray-Ban, reported stronger-than-expected revenue for the second quarter, driven by price gains and growing momentum in smart glasses innovation.

EssilorLuxottica SA reported better-than-expected revenue in the second quarter, though tariffs and rising investment in smart glasses limited profit at the world’s largest eyewear maker.

Revenue rose 7.3% at constant exchange rates to €7.18 billion ($8.36 billion) during the period, the company said Monday. The result beat analysts’ expectations of a 5.9% increase, based on a Bloomberg-compiled consensus.

In the first half of the year, the Ray-Ban owner reported adjusted gross profit margins that declined by 90 basis points compared to the same period in the previous year, citing the impact of U.S. tariffs and increased spending on wearables.

A stronger price mix helped offset the pressure from tariffs and unfavorable exchange rates. EssilorLuxottica, which also owns LensCrafters and Sunglass Hut, benefited from premium pricing across several markets.

The company has fast-tracked its entry into the smart glasses market, unveiling the hearing-enhanced “Nuance Audio” range and introducing “Oakley Meta,” which infuses a sportswear edge into its ongoing collaboration with Meta Platforms Inc., parent company of Facebook. While the initiative has led to increased costs, it has also yielded significant returns: sales of Ray-Ban Meta more than tripled in the first half of the year.

Meta Platforms also deepened its commitment to the segment by acquiring just under 3% of EssilorLuxottica, as reported by Bloomberg News earlier this month. The investment gives Meta more control over hardware and distribution—a strategic move, according to Mark Zuckerberg, the company’s Chief Executive Officer.

EssilorLuxottica shares, listed in Paris, have risen approximately 4.5% this year, lagging behind the 8.1% gain in the Europe-wide Stoxx 600 index.

The company reaffirmed its forecast for mid-single-digit annual revenue growth through 2026, based on constant exchange rates, and expects adjusted operating margins to remain between 19% and 20% of revenue.

EssilorLuxottica also continued its expansion in the medical technology sector—one of the company’s key growth pillars.

Earlier this month, the company agreed to acquire assets from South Korea’s PUcore to support the development of monomers used in contact lenses. In May, it also announced the acquisition of ophthalmology group Optegra, which operates over 70 eye hospitals and diagnostic centers across Europe.

News Credits- FASHION NETWORK

Swiggy adds noon CEO Faraz Khalid to board as SoftBank, Accel step down

BENGALURU: Swiggy has appointed Faraz Khalid, CEO of MidEast ecommerce major noon, as an independent director to its board, while long-time investor nominees from Accel and SoftBank have exited their roles, marking a broader shift toward independent governance after the company’s 2024 IPO.

Khalid’s appointment brings global ecommerce and quick-commerce expertise to Swiggy at a time when the company is scaling its convenience platforms in India. Under his leadership, noon has expanded into food delivery, fintech and quick commerce across the Gulf region. He previously co-founded fashion platform Namshi, which was acquired for $335 million in 2023 by Dubai billionaire Mohamed Alabbar and Saudi Arabia’s sovereign fund Public Investment Fund-backed noon.

With this move, Accel Partner Anand Daniel and SoftBank Investment Advisers’ Managing Partner and head of EMEA & India Sumer Juneja resigned as non-executive, non-independent directors. Both cited professional commitments and confirmed there were no other material reasons for their resignations. The two have been associated with Swiggy since its early funding rounds and have played key roles in its growth over the past decade.

Swiggy chairperson Anand Kripalu said the refreshed board structure, which now includes four independent directors, reinforces the company’s long-term governance priorities. “We are delighted to welcome Faraz to the Board… and extend our heartfelt thanks to Sumer and Anand for their invaluable contributions,” he said.

Founder and Group CEO Sriharsha Majety described Khalid as a “visionary leader in ecommerce,” adding that his strategic and operational experience would be crucial as Swiggy enters its next phase of growth.

Separately, Swiggy has reappointed chartered accountant Shailesh Haribhakti for a second term as independent director from January 2026, and named Cauveri Sriram, an industry veteran formerly with the Tata group, as the company’s new company secretary and compliance officer.

The governance overhaul comes six days before Swiggy, which operates food delivery and quick commerce services across more than 700 cities while also expanding newer offerings such as Snacc, Pyng and Scenes, is set to report earnings results of the first quarter of the financial year ending March 2026.

Author Credits- Supriya Roy
                                   msn

temu

Temu Amazon Battle Being Played Out In OZ As Chinese Ecommerce Player Struggles Following Tariff Hit

Temu Struggles Amid U.S. Tariffs and Amazon’s Aggressive Pricing Tactics

Temu, the Chinese online shopping platform that has attracted millions of Australian users, is facing mounting challenges as U.S. tariffs take effect and Amazon ramps up competition globally.

The rivalry between Temu and Amazon is not only reshaping global e-commerce but also impacting the bottom lines of major discount retailers such as Big W, Target, and Kmart, according to industry insiders. Local retailers are reportedly losing customers to international players offering lower prices and greater convenience with both Temu and Amazon ramping up marketing in Australia especially to existing customers.

Temu, owned by China’s PDD Holdings, is scrambling to source goods from former suppliers after the Trump administration removed the de minimis rule—previously allowing duty-free imports under a set value.

The policy shift has stalled Temu’s growth in the U.S., with its monthly active users plummeting 54% to 37 million between March and mid-July, according to Sensor Tower data.

This has led to the Chinese ecommerce operator chasing marketshare in markets such as Australia, Asia the EU and the UK.

Making matters worse, Amazon has moved swiftly to fill the gap, pressuring suppliers to avoid undercutting its prices on branded goods.

“We’ve told them they can’t undercut Amazon with the same stuff—it has to be materially different products,” a senior executive at a major third-party seller told the Financial Times.

The result: Temu is being forced to rethink its business model. In the U.S., it has slashed advertising in response to the tariffs, contributing to a sharp drop in user engagement. This pullback could cost tech giants like Google and Meta over A$2.3 billion in lost ad revenue, with Morgan Stanley estimating Temu spent around A$2.5 billion on Facebook and Instagram ads last year alone.

With the U.S. market tightening, Temu is doubling down on tariff-free regions like Australia, ramping up promotions and discounts in an effort to win back users. Analysts say this strategy is further disrupting local discount chains, especially as Amazon also slashes prices in a bid to dominate.

To stay competitive, Temu is offering new incentives to sellers—such as lower fees—to encourage them to list on the platform. However, sellers remain cautious, warning that Amazon can quickly match or beat prices due to its scale and ability to absorb short-term losses.

“Unless PDD is prepared to lose billions annually for the next five years to gain market share, it needs a smarter approach,” said retail consultant Martin Heubel, who brokers deals with Amazon vendors.

Under existing arrangements, Amazon vendors often agree to absorb the cost of price reductions, allowing the retail giant to maintain its margins while still offering low prices. Amazon maintains these deals are voluntary and designed to keep prices competitive.

For Temu, alternatives include focusing on unbranded products or offering bulk discounts—strategies common in large discount outlets.

“The only way Temu can compete on higher-quality goods is by avoiding branded items or selling overstock and returned products at lower prices,” Heubel said.

Author Credits- David Richards
CHANNELNEWS

Australia Post and Adobe partnership

Australia Post boosts digital experiences with Adobe partnership

In a bid to provide more personalized and seamless experiences for customers, Australia Post has partnered with Adobe to enhance its digital capabilities.

The partnership will see Australia Post use data and AI to tailor digital interactions, improve how customers engage with services and make operations more efficient.

Michael McNamara, Australia Post executive general manager, enterprise services, explained, “As we continue to transform our digital customer experience and modernize e-commerce operations, we are investing in technology that helps us connect more meaningfully with our customers.

“By using AI and real-time data, we can better understand what customers need, tailor services to suit them and make every interaction simpler and more efficient. This partnership is about delivering personalized experiences that meet customers’ expectations, wherever they are, while ensuring we stay competitive in a rapidly evolving e-commerce landscape.”

Australia Post will leverage the full capabilities of Adobe to bring together creativity, marketing and AI to deliver personalized customer experiences at scale. This means Australia Post customers will receive tailored digital interactions aligned to their needs and preferences, helping them complete transactions quickly and easily.

It will also drive more agile operations internally by connecting Australia Post’s creative and marketing teams in streamlined content production workflows and activate generative AI to scale the production of standout content for digital marketing and e-commerce.

Anil Chakravarthy, Adobe digital experience business president, commented, “Australia Post is on a transformative journey that not only ensures the organization thrives in a rapidly changing e-commerce delivery marketplace but also has the digital capabilities that underpin generational success.

“It’s about reimagining the digital experience and delivering value in new ways, with a comprehensive set of applications and services specifically designed to address the modern technology requirements of Australia Post.

“Together, we share a commitment to creating relevant and impactful experiences, creating value for customers and communities alike.”

Author Credits- HAZEL KING
Parcel and postal technology INTERNATIONAL