CHECKOUT COUNTER: Processed-food stalwart launches health unit
1. Hugo Boss puts down cash
Hugo Boss will increase capital expenditure in 2018 to between €170m and €190m from €128m last year. Most of the money will go to revamping stores and improving e-commerce. The German fashion house, known for its suiting, makes more than half its menswear sales from casual styles, about 40% from formal wear and about 10% from shoes. New CEO Mark Langer has sought to return the company to its roots, selling premium men’s clothing with a modern edge.
2. Uber bets on Kohli
Cab-hailing platform Uber has appointed India’s cricket captain, Virat Kohli, as its first brand ambassador in the country, as it pins its hopes on the Asia Pacific region. Uber has pumped millions into the Indian market as it goes head-to-head against Bangalore-based rival Ola. Last month, Uber named footballer Mohamed Salah as its brand ambassador for the Egyptian market.
3. KFC returns to former supplier
KFC is returning to former supplier Bidvest for more than one-third of its UK restaurants after its disastrous switch to DHL caused chicken shortages that forced the temporary closure of 900 outlets. KFC, owned by Yum! Brands, overhauled its UK supply chain last year.
4. Processed-food stalwart launches health unit
Kraft Heinz, the US$100bn ketchup giant, has created a unit to fund small health-conscious food businesses. The move highlights a trend of big food brands financing or acquiring niche brands that sell natural or organic products, to reverse sluggish sales. Kraft Heinz has called its new venture Springboard.