India's Tata Group increased its revenues by 5.3% last year, according to chairman Cyrus Mistry. International business accounted for approximately 68% of that revenue.
Australia is reportedly in the midst of a complicated negotiation to establish a free trade agreement with India, with talks expected to go a ninth round in August. Australia has already inked agreements with Japan, Korea and China.
U.K. retail sales balances dipped in July, slipping to +21 from +29 in June, according to a recent survey by the Confederation of British Industry. Clothing sales grew at the fastest annual clip since January, but retailers are still noting sales challenges, said CBI panel chairman Barry Williams.
India-based online men's fashion retailer Zovi is aiming to build a mobile application that would offer real-time "hyper-local" deals to shoppers. The company raised $50 million in a recent funding round and secured an investment from mobile wallet and online marketplace Paytm.
The Society of Independent Brewers, a U.K. trade organisation, has debuted an accreditation program in response to a growth in brewing businesses. SIBA will hire a food technologist to oversee inspectors who will assess quality over a one-day audit, according to a company representative.
Dwindling demand for luxury brands in China has revived the market in Japan, with the number of luxury fashion houses hitting a historic peak last year, according to economic reports. Twelve luxury brand stores opened last year, and eight more are anticipated to launch in the coming year.
Brazilian retailer GPA SA, the country's largest retailer, is overhauling stores, trimming rents and hunting for affordable land in the middle of Brazil's economic downturn. The retailer, which runs supermarkets, electronics chains and convenience stores, this week reported its first quarterly loss since 2006.
Wal-Mart and Target saw new CEOs take the helm one year ago, and they have both launched efforts to build momentum for the retailers in a competitive market. Under Greg Foran, Wal-Mart is in the process of boosting its minimum wage and improving operations and fresh foods, while Target has posted a 36% increase in share prices under Brian Cornell following its departure from the Canadian market as it moves forward with updating its merchandise mix with a focus on grocery, style, kids and wellness.
SuperValu will consider creating a separate, publicly-traded company for its Save-A-Lot discount grocery banner, in an effort to find more growth opportunities in a competitive industry, the retailer said Tuesday. The Save-A-Lot chain has more than 1,300 stores nationwide, with plans to open 100 more by early 2016.