ASBM Business Updates is a Weekly Selective Compilation of Business News from Various Sources. To find details follow the links.
BUSINESS
MANAGEMENT
Fashion e-tailer Myntra on Wednesday said it has bagged master
distribution and management rights for Spanish fashion brand Mango in India.
This is the
first time that an e-commerce player will manage the omni-channel strategy for
a global fashion brand.
No financial
details of the deal was disclosed.
As part of the
arrangement, Myntra will curate and facilitate setting up 25 Mango stores and list the brand exclusively on Myntra and Jabong platforms over the next five years.
"We have
seen 100 per cent growth in business on Myntraplatform in the last 3 years and that has given us the
confidence for this partnership," Mango Vice-Chairman and Member of the Board of Directors
Daniel Lopez said.
He added that India does not feature among the company's top markets as
of now but this partnership will help change that.
INTERNATIONAL
BUSINESS
Facebook, which has so far
kept WhatsApp out of the revenue-churning loop, now plans to tap the
money-making potential of its instant messaging app.
The social networking giant is working on
what it calls WhatsApp for Business, a platform that will allow small
businesses to download a different version of the app, and engage with a large
number of WhatsApp users. It is still in the design and testing phase.
On the face of it, WhatsApp for Business
sounds like Facebook at Work, or its rival Slack – both communication platforms
for businesses. But the company insists that what it has in mind is different.
“This is for very small businesses,
employing less than 10 people, and they are asking for a mobile client, which
will help them manage businesses in an easier manner, whether it is about
managing customer contact lists or multi-agent support,” Brian Acton,
co-founder of WhatsApp, said in an interview.
Facebook at Work is for large enterprises
such as International Business Machines Corp., which employ thousands of
people, said Acton.
RETAIL
China's Alibaba
Group Holding Ltd said it formed a strategic partnership with Bailian Group,
the largest retailer by store numbers to join the e-commerce giant's drive to
use big data to improve and profit from brick-and-mortar sales.
The deal, which
does not include any financial investment in Bailian, is the latest in
Alibaba's still nascent efforts to capture a bigger share of the retail market
as online sales growth slows.
It has also
spent $4.6 billion on a minority stake in appliances retailer Suning Commerce
Group Co Ltd, is leading a $2.6 billion bid to take department store and
shopping mall operator Intime Retail Group Co Ltd private and has bought a
stake in grocery chain Sanjiang Shopping Club Co Ltd.
News of the
agreement sent shares in Bailian Group firms surging but analysts cautioned it
may take several years before returns from using big data can make a
significant difference to earnings.
"There is a
big push right now across brands to try and figure out how to mix physical and
online shopping but gains so far have been limited," said Shanghai-based
retail analyst Ben Cavender at China Market Research Group.
The two firms
will initially cooperate on supply chain technology using Alibaba's big data
capabilities and will integrate Alipay payments with Bailian Group's existing
membership program.
Bailian operates
4,700 outlets in 200 cities including supermarkets, convenience stores and
pharmacies - more than double the stores owned by Suning, Intime and Sanjiang
combined.
An Alibaba
spokesman declined to comment on how many stores will be involved in the new
partnership. A Bailian spokesman did not respond to a request for comment.
Alibaba, which
has an active user base of around 500 million, has said it wants to tap China's
entire $4.8 trillion retail economy by developing data-driven management tools
for retailers and brands.
_____________________________________________________________________
Source of Information
for this issue: Google alert accessed on Feb 28, 2017
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Compilation
Sabita Sahu
Asst Librarian
Information and
Documentation Division, Chanakya Central Library
Asian School of
Business Management
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