CHECKOUT COUNTER: Danone looks to new cash cow
World’s biggest yoghurt maker is considering adding milk-free ranges to some of its flagship brands in a bid to capitalise on the growth in veganism
1. Going for more than a song
A working hand-written notebook manuscript of Bruce Springsteen’s Born to Run has sold for $250,000 at Sotheby’s. The buyer’s identity wasn’t disclosed. The lyrics to the 1975 anthem, ranked as the New Jersey native’s greatest song, previously sold for $197,000 in 2013, also at Sotheby’s. It was later exhibited at Duke University in Durham, North Carolina.
2. Danone looks to new cash cow
Danone, the world’s biggest yoghurt maker, is considering adding milk-free ranges to some of its flagship brands in a bid to capitalise on the growth in veganism. Danone controls about 17% of the $83bn global yoghurt market, says market research firm Euromonitor. But sales of dairy products are expected to slow in the coming year as consumers opt for alternatives such as almond and soy milk.
3. Not coming up Trumps
Walmart landed in hot water last week, with supporters of President Donald Trump threatening a boycott over apparel on its e-commerce store that featured the words "Impeach 45" (Trump is the 45th US president). A "Boycott Walmart" hashtag also started trending on Twitter.
4. Grocery giants talk shop
Britain’s largest grocery chain Tesco and French giant Carrefour have forged an alliance to buy from suppliers in a bid to cut prices, amid rising competition from Amazon and other rivals. They say they will jointly source certain products to lower prices, raise quality and broaden their product offerings. The agreement will initially last three years. Tesco made sales of £57.5bn last year, while Carrefour’s sales totalled £78bn.