CHECKOUT COUNTER: Unilever | Richemont | Asos | Walmart
Unilever will buy the personal-care and home-care brands of Quala, a Latin-American consumer goods company. The Anglo-Dutch group said the inclusion of these brands in its stable would consolidate its position in hair care globally, and contribute to its oral-care and male-grooming businesses. Unilever is using bolt-on acquisitions to help grow revenues, following Kraft Heinz’s failed US$143bn bid for Unilever earlier this year.
2. Richemont snaps up duty-free stake
Swiss luxury goods maker Richemont, whose brands include Panerai, Dunhill and Montblanc, has bought a 5% stake in the world’s largest duty-free retailer, Dufry AG. The move is said to have been made to give Richemont’s maisons, or brands, access to good locations.
3. Asos warehouse hit by fire
Online fashion retailer Asos Plc this week said a fire at its warehouse outside Berlin, in Germany, had destroyed stock worth about £6.25m. The company said it is fully insured for the loss of stock and any subsequent business interruption resulting from the fire. Asos’s Eurohub 2 distribution centre had about 7m items in stock when the fire broke out.
4. Walmart’s e-commerce sales on the rise
Walmart reported that US online sales rose 63% in the first fiscal quarter of the year. This comes on the back of a series of acquisitions of e-commerce companies, including a $3bn purchase of Jet.com. Following improvements made to its online marketplaces, Walmart.com now sells 50m first-and third-party items, up from 10m a year ago.