France-based luxury brand Chanel has invested in online fashion marketplace Farfetch, which sells styles from upwards of 700 boutiques globally. Chanel, which won't sell its fashions on the site, will work with Farfetch to develop new digital tools to enhance customer service, Chanel executive Bruno Pavlovsky said.
Walmart's proposed deal to acquire about 20% to 30% of Indian e-commerce company Flipkart includes plans to open brick-and-mortar stores in the country, sources said. The US retailer can't open stores in India on its own because of laws governing foreign ownership of multi-brand retailers.
Consumers are doing about 20% of their fashion spending online, according to NPD Group, and about 30% of apparel and footwear purchased online is returned. The trend has some fashion retailers revamping their returns policies and testing new programs like a Zara pop-up where online shoppers can pick up and try on purchases and do on-the-spot returns and exchanges.
UK-based Rutland Partners, parent of electronics retailer Maplin, is negotiating with several potential buyers and expects to announce a sale of the retailer soon, a spokesman said. The company aims to implement a 2020 multichannel strategy, which includes helping customers choose the right smart devices and installing the devices in their homes.
Rival Chinese tech companies Alibaba Group Holding and Tencent Holdings have together spent more than $10 billion on retail investments since early 2017. The firms have invested in both e-commerce and brick-and-mortar retail, with a focus on expanding the range of their respective mobile payment services.
France-based supermarket operator Casino aims to acquire shoe retailer Sarenza and ramp up online growth to stay competitive, as Amazon plans to expand in the country. Sarenza's sales topped $310 million in its last fiscal year.
Tractor Supply Company Senior Vice President and CIO Rob Mills says 70% of his company's customers shop on a mobile device for gardening equipment, animal supplies, hardware and apparel. In this episode of NRF's Retail Gets Real podcast, Mills discusses how Tractor Supply creates an award-winning online customer experience. Listen now.
Cloud-based industrial internet of things software solutions provide security through their configurations, certificate authority and resistance to unauthorized remote access, writes Michael Bachelor of Bachelor Controls. Although nothing is 100% risk-free, "it is not unreasonable to believe that a company that embraces the cloud will on average address internal security concerns more thoroughly than a company that believes it is avoiding the risk by avoiding the cloud," Bachelor writes.
Data breaches lead to failure within six months for 60% of small and medium-sized businesses, according to the National Cyber Security Alliance, Jeff Eiserman writes. IT preparation, employee training and cyberliability insurance are all recommended steps, he writes.
Employers should be proactive as they adjust to the Occupational Safety and Health Administration's two-year implementation of electronic incident reporting and the public distribution of safety data, writes Quin Rodriguez of Riskonnect. Educate workers on safety, the importance of incident reporting and how to comply with OSHA's reporting processes, Rodriguez recommends.