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Fashion Scoops: Well-Well Du Jour … Big in Japan … Sims Chills Out …
WELL-WELL DU JOUR: With speculation heating up that Domenico De Sole and Tom Ford could step down from Gucci Group when their employment contracts run out next year and Pinault-Printemps-Redoute completes its stock buyout, rumors are bubbling up...
WELL-WELL DU JOUR: With speculation heating up that Domenico De Sole and Tom Ford could step down from Gucci Group when their employment contracts run out next year and Pinault-Printemps-Redoute completes its stock buyout, rumors are bubbling up everywhere about who could possibly take up the design reins from Ford. The latest to surface has Alexander McQueen, one of the young guns in the group’s stable, taking over the Gucci brand. Asked about it Monday night at Harvey Nichols, which was christening a new McQueen shop, the designer said: “I’ve heard those rumors, too, but they’re just not true.” A spokeswoman for the designer drove the point home: “His own collection is so important to him, and that’s his focus. He’s not going to Gucci.” Guests at McQueen’s party included Christina Aguilera, Erin O’Connor, Jodie Kidd, Jessica de Rothschild, Jerry Springer, Sam Taylor Wood and Jasmine Guinness.
Meanwhile, over in Paris, designer Loulou de la Falaise, pegged by some as Ford’s imminent successor at Yves Saint Laurent, no matter that she just launched a signature fashion house, had a good chuckle: “I deny it,” she said. “This is the first I’ve heard of it.”
BIG IN JAPAN: John Galliano is taking his dream show on the road for Christian Dior. WWD has learned that the star couturier is slated to reprise his recent couture show, and forthcoming Dior ready-to-wear show, in a major fashion spectacle in Tokyo on May 30. It’s all part of the buildup for the December opening of the Dior megastore on Ometesando.
SIMS CHILLS OUT: It wasn’t the Colorado rapids, but Molly Sims braved the state’s icy waters during her shoot for Sports Illustrated’s annual swimwear issue. Her assignment? Be perched on a rock in the icy mountain stream wearing only lingerie-inspired swimwear and fly-fishing gear.
The shoot at Henry Kravis’ Seven Lakes Lodges in Meeker, Colo., was one of seven Smith commanded during a five-and-a-half month tour. This year’s cover girl, Daniela Pestova, won’t be the only one celebrating once the mag hits newsstands today. Swimwear designer Ambika Conroy provided the crocheted bikini the model wears.“Little Ambika landed the cover,” Smith said. “She’s going to have to start knitting a lot of suits. She’s going to have to get her friends to start knitting with her.”
HEY JUDE: Sadie Frost’s nearest and dearest, including Kate Moss, Stella McCartney, and Mario Testino, all showed up to support her at the FrostFrench film presentation on Sunday. The only one missing — for reasons still obscure — was Jude Law. Why? In London, speculation is reaching a fever pitch that she and her longtime partner — and father of their three children — are living apart and fighting for custody of the brood. Both Frost and Law have kept mum so far, with the exception of a statement issued last week asking the press to leave them alone.
SHOE GANG: Eve, who’s already launching a line this year, also has a talent for shoe design. The rapper, along with fellow Grammy-nominated singers Kelly Rowland of Destiny’s Child and Vanessa Carlton, have each designed a limited edition shoe for Candie’s. The shoes won’t hit stores until April, but Carlton and Rowland are scheduled to appear at Macy’s Herald Square on Thursday to promote the new sandals. Retailing between $90 and $125 a pair, proceeds from the shoes will benefit The Grammy Foundation to promote music and art education and The Candie’s Foundation to raise teen pregnancy awareness.
PANTY RAID: Valentine’s Day can drive even the most secure lovers over the edge sometimes. Who doesn’t know the pressure of finding that one gift to sum up the significant other’s meaning without disappointing?
Last Friday, one such individual seems to have, well, snapped under the pressure of love. Shortly after the doors closed for the day, a burglar entered lingerie store Top Drawer on South Voss in Houston, heading straight to Leigh Bantivoglio’s upscale assortment. Said burglar nicked about $4,000 worth of merchandise, including signature lace camisoles and french cut panties. “We know we have a huge following in Houston,” said Kim Martin, Bantivoglio’s director of marketing. But what’s with stealing lingerie for Valentine’s? “It’s a big mystery,” she said. “Either they really needed to come up with a Valentine’s gift, or maybe wanted something for a chic Valentine’s day party.”And the panty thief is still on the loose.
“They’re probably still trying on those panties,” laughed Martin. “It’s nice to be in demand, though. Actually we’re quite flattered.”
CHRISTINA CALLING: Christina Aguilera, officially in town to plug the new Siemens Mobile phone, has taken London Fashion Week by storm. On Sunday, at Gharani Strok, the singer was mobbed by fans who nearly sent her reeling to the ground. But the young chanteuse emerged unscathed, appearing later that night at the Another magazine party where she was spotted dancing — and flashing — for Kate Moss and Jefferson Hack. Ah! The burdens of being the only A-lister of fashion week! Stay tuned for more Christina adventures.
SOLO ACT: The folks at Xelibri, the new fashion phone from Siemens Mobile, invited Shirley Bassey, Christina Aguilera, and Boy George to perform at their launch event on Saturday, so it’s no wonder that Jay Kay from Jamiroquai was miffed that he wasn’t asked too. “I can’t think why they didn’t ask me to do a number,” said the rumpled and unshaven singer at the party at Old Billingsgate Market in London’s East End. “I could have done a duet with Christina,” he said with a giggle. “And I could have made the hat,” added milliner Cozmo Jenks.
AT LIBERTY: “I’m a traitor,” said Matthew Williamson at a party he hosted with stylist Bay Garnett at Liberty of London on Sunday night. “The necklace is by Garrard — not one of my own — but I’m thinking of customizing it with a pink diamond.” The party was held to unveil Williamson’s windows at Liberty, which featured his neon-inspired spring collection. Guests, including Jade Jagger and Pat Field, got the full sensory experience of the collection, sipping fluorescent pink and green drinks made from seaweed and yogurt.
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)
@Pharrell and his wife Helen Lasichanh were among the stars that came out to celebrate @rimowa’s first pop-up concept shop. The space, which is located on Rodeo Drive in Beverly Hills, draws inspiration from airport luggage carousels and lounge areas – and features the company’s luggage and accessories. If the pop-up is successful it could pave the way for addition temporary shops throughout the world. #wwdfashion (📷: Owen Kolasinski/BFA)
@carineroitfeld celebrated @crfashionbook’s first calendar last night with a dinner party at Spring Place in Manhattan. Photographed by @stevenkleinstudio, the calendar takes on a fitness theme and features @joansmalls, @gigihadid, @danielle_herrington_ – pictured here – and more. “[Carine Roitfeld] wanted me to feel sexy and she wanted me to be myself and feel it out on my own and do what I felt was right,” said Herrington, aka Miss October. #wwdeye
@saintrecords and @virgilabloh last night at @americanexpress’ “A Night With Success Makers” event. “I always bring it back to community because without that I wouldn’t have the courage,” said Knowles when asked how she has gotten where she is now. Read more highlights from their conversation on WWD.com. #wwdeye (📷: @lizdoupnik)
This Just In: Industry sources have told WWD that Anastasia Soare is rumored to be considering selling her beauty business, @anastasiabeverlyhills. According to those sources, Soare has tapped investment bank Imperial Capital to explore sale options for her eponymous beauty brand –– and with at least $340 million in net sales, this would be a big deal. Put in context of other recent transactions for makeup companies, Soare’s price tag could be in the billions if she were to sell the whole thing. #wwdnews #wwdbeauty (📷: @clint_spaulding)
@assouline’s latest book, “The Spirit of Bentley: Be Extraordinary” captures the adventurous attitudes and opulent lifestyles of @bentleymotors’ most creative owners and enthusiasts throughout the U.K. The 292-page hardcover has a section dedicated to showing its team of skilled artisans and photos of its most colorful owners, from George Bamford to designer @alicetemperley, pictured here by Aline Coquelle. #wwdeye
@google released its report on the most popular search terms this year. For fashion brands, the list was led by @gucci, the luxury brand that stunned the market last October when it pledged to stop using fur. Runner ups were @supremenewyork and @fashionnova, along with more established brands like @louisvuitton, @chanelofficial and @ysl. #wwdfashion (📷: @aitorrosasphoto)
In yet another fashion show shuffle, @elleryland is moving its show in sync with the Paris couture calendar — though the brand is still keeping one foot on the city’s ready-to-wear schedule. Their runway show in January will coincide with the launch of a new strategy: designing two main collections each year instead of four, which will then be released in four drops. “As we all know, the system needs to change. We need to show sooner to give time back to artisans and designers to do what they do best — create,” said founder Kym Ellery. #wwdnews #wwdfashion (📷: @kukukuba)
@maxmara’s classic 101801 coat was the cornerstone of its pre-fall 2018 collection. The design team expanded the traditional double-breasted, kimono-sleeved style into a trapeze coat, lean belted styles and a peacoat and presented them in monochromatic looks – like the camel one pictured here. #wwdfashion #prefall18 (📷: George Chinsee)


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Sony's new PlayStation Productions label is going old-school with its first project.
Sony is baking PlayStation into nearly everything it does. It recently launched PlayStation Productions, a studio that'll work along Sony Pictures to adapt big first-party game franchises into TV shows and movies across its entertainment subscriptions. Sony's kicking things off with a surprising gem from PlayStation's early days: the carmageddon smash-up Twisted Metal.
At a recent Sony investor's meeting, Sony Pictures CEO Tony Vinciquerra confirmed a Twisted Metal TV show is happening. "We have a TV show we just agreed to get underway that will be developed from the IP on PlayStation, it's called Twisted Metal. It's a game that was put out many years ago and we're going to develop a TV series around that."
We're not sure if the series will be live action, CGI, or even animated with old-school ink. Based on the logistics of having to absolutely annihilate real life cars and perform insane stunts, that the Twisted Metal TV show will be computer animated in some way. But it'd be awesome to see some old-school mayhem unfold before our eyes and witness icons like Sweet Tooth laugh maniacally while roaring through flames...
Ahh the memories.
This probably isn't the only project PlayStation Productions is working on, but it's the only one confirmed so far. We should see adaptations of key franchises like God of War, The Last of Us, and maybe even Horizon: Zero Dawn.
No release date information or even a release target was announced during the event.

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A Florida shopper wouldn’t take no for an answer, and things got a little out of hand.
According to a police report from the Volusia County Sheriff’s Office, Dahianna Serraty caused a scene at a Spectrum cable TV and cell[phone store in Orange City during lunchtime Tuesday. But the melee had nothing to do with masks.
The sheriff’s office complaint says that the 34-year-old customer demanded a refund for an unknown item or service, but workers told her that the credit had already been applied and the account closed.
This news apparently upset Serraty, who left the store and returned a little later to demand a refund again from a different worker. The customer was denied again, and she exited.
The third time the suspect entered the store she came back with a “long silver metal object,” which turned out to be a crowbar, according to the affidavit.
Wielding the tool, Serraty went over to a cash register and attempted to pry it open, unsuccessfully. But the second cash register was the charm, said the police report.
“Where’s my money? I’m getting my money!” she yelled inside the store, employees told officers, according to the complaint.
She was caught on surveillance video prying open the registers and ultimately grabbing a handful of cash from a drawer. The amount was unspecified.
Deputies later tracked the defendant down after an eagle-eyed Spectrum worker jotted down her license plate.
Serraty was arrested on charges of robbery with a weapon, criminal mischief and petit theft. She was released from the Volusia County Jail on $10,000 bond.


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The Sterling 360 has already proved itself a force to be reckoned with, having won the Editor's Choice Award less than three weeks since its release.
REDFORD, Mich. – The new Sterling 360 low cab-over truck has won the Editors’ Choice Award for New Product Innovation at The Work Truck Show 2006.
Introduced at a February 28 press conference during The Work Truck Show in Atlanta, Ga., the Sterling 360 received the highest number of editorial votes for the best new product or product innovation at the show.
“We are honoured to receive this recognition and are pleased that our respected colleagues in the media are as excited as we are about the Sterling 360,” said John Merrifield, senior vice-president of distribution, Freightliner. “Introducing Sterling’s first Class 3-5 low cab-over-engine truck was a great accomplishment for the brand and we look forward to its continued success.”
With the tagline “Better All Around”, Sterling officials say the 360 boasts several innovative features including leading fuel economy (which they say can be improved up to 19 per cent over the competition), easy entry and egress, a large cab, outstanding maneuverability and visibility, and a body builder-preferred design.
“Receiving the New Product Innovation award is a result of great teamwork between Sterling and our colleagues at Mitsubishi Fuso,” said Martin Klein, vice-president of light-duty business, Sterling. “It also demonstrates DaimlerChrysler’s commitment as part of the Global Excellence initiative to meeting customer needs on a global scale by packaging together the right product, distribution channel, customer support, and financial services.”
The Sterling 360 will soon be available at select Sterling dealers across North America. Classes 4 and 5 will be rolled out in spring 2006 and Class 3 in mid-2007. For more information, visit Sterling’s new Sterling 360 Web site at www.BetterAllAroundTruck.com.
Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry. All posts by Truck News


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It’s official. According to government recycling advisor WRAP, non-bottle household plastic packaging can be recycled and it is offering incentives to make it happen.
WRAP has conducted trials and says that its research shows “for the first time” that collecting non-bottle household plastic packaging, reprocessing it and finally manufacturing it into useful popular items, is both technically and commercially viable. Recycling of this plastic packaging is also the best environmental option.
Now WRAP is launching a £2 million capital grant competition to help the recycling supply chain build the capacity for recycling more plastics packaging. Marcus Gover, director of market development at WRAP said: “The grant is designed to help stimulate the development of waste management infrastructure and boost recycling capacity by at least 40,000 tonnes per year by 2011.” At present more than 180,000 tonnes of plastic bottles are collected for recycling in the UK but there are very limited facilities to recycle non-bottle household plastic packaging.
According to Mr Gover end markets for the non-bottle recyclate would continue to grow both domestically and overseas.


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LAST UPDATED : Feb 21, 2019, 06:44 PM IST
- UP budget aims to create fusion between rural economy, urban infra: SBI research
New Delhi, Feb 18 () The Rs 4.80-lakh crore budget for 2019-20 by Uttar Pradesh aims to create a "generous" fusion between promoting rural economy and developing urban infrastructure, said a research report by State Bank of India. After presenting a Budget of Rs 4.
- We might end up 2018-19 with 3.3% fiscal deficit: Economic affairs secretary
Economic affairs secretary Subhash Chandra Garg on Saturday exuded confidence that FY 2018-19 will end with a fiscal deficit of 3.3 per cent of the GDP, marginally lower than the revised estimate of 3.4 per cent for the year. As per the interim Budget tabled in Parliament on Friday, the government has projected a fiscal deficit target of 3.4 for the next financial year 2019-20.
- Agri sector neglected after economic reforms: NITI Aayog member
Prof Ramesh Chand, member NITI Aayog and Fifteenth Finance Commission, government of India (GoI), on Tuesday said that the transformation in the agriculture sector is not taking place because of the institutional bottlenecks in the import of inputs and technology for the farm sector.
- India on way to becoming 5th largest economy in world: PM Modi
Speaking at the India-South Africa Business Summit here, PM Modi said India is the world's fastest-growing major economy and the government is committed to reforms that will further propel it. At $2.6 trillion, the Indian economy is currently ranked sixth in the world behind the US, China, Japan, Germany and the UK.
- WEF summit ends with words of caution for world economy
In the last plenary session on 'Global economy in transition', IMF chief Christine Lagarde listed climate change, an ageing population, jobs for youth, income inequality and the need to make the world more cooperation among the key issues needed to be dealt with. The five-day World Economic Forum Annual Meeting 2019 ended on Friday.
- Emirates to allow lesser check-in baggage from February 4 on lowest level of economy fares
The airline applies weight concept of check-in baggage on “all routes, excluding travel to and from destinations in the Americas and travel originating in Africa.” A passenger buying special (lowest) category of economy fares for these flights will be allowed up to 15 kg of check-in baggage instead of the current 20 kg.
- India to remain fastest-growing economy in 2019, 2020: UN report
According to the UN's World Economic Situation and Prospects (WESP) 2019, India's GDP growth is expected to accelerate to 7.6 per cent in 2019-20 from an estimated 7.4 per cent in the current fiscal ending March 2019. The growth rate may come down to 7.4 per cent a year later.
- Indian economy poised to pick up in 2019, says IMF
The International Monetary Fund in its January World Economy Outlook update on Monday said India would remain the fastest growing major economies of the world. "India's economy is poised to pick up in 2019, benefiting from lower oil prices and a slower pace of monetary tightening than previously expected, as inflation pressures ease," the IMF said.
- China's economy cools in Q4, 2018 growth hits 28-year low
China's economic growth cooled slightly in the fourth quarter from a year earlier as expected, weighed down by weak investment and faltering consumer confidence as Washington piled on trade pressure, leaving 2018 growth the weakest in 28 years. Signs of further cooling in China are stoking worries about risks to the world economy.
- India likely to surpass UK in the world's largest economy rankings: PwC
As per the report, while the UK and France have regularly switched places owing to similar levels of development and roughly equal populations, India's climb up the rankings is likely to be permanent. PwC's Global Economy Watch report projects real GDP growth of 1.6 per cent for the UK, 1.7 per cent for France and 7.6 per cent for India in 2019.
- Global economy to worsen on rising geopolitical worries; wealth disparity key concern: Survey
London/New Delhi, Jan 16 () Rising geopolitical and geoeconomic tensions are the most urgent risks the world faces in 2019, while worsening international relations are hindering a collective will to tackle these concerns, a new study said Wednesday.


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Levi Strauss & Company said today that second-quarter results lagged expectations, virtually ensuring that it would suffer its fifth consecutive year of declining sales.
The company said it earned $43 million in the second quarter, down 4 percent from a $45 million profit in the period a year earlier. Sales for the quarter, which ended May 27, fell 9 percent, to $1.04 billion, prompting Levi to abandon its previous goal of a slight sales increase this year.
The chief executive, Philip Marineau, predicted that sales would fall 3 percent to 5 percent this year, adjusted for currency fluctuations. The actual decline probably will be 8 percent to 10 percent, based on results through the first six months.
Levi's sales decreased 9 percent, to $2.0 billion, through the first six months, while earnings dropped 34 percent, to $73 million.
Entering the year, Mr. Marineau had hoped to increase sales by as much as 2 percent, or at least stop the decline that began shortly after the company's sales peaked at $7.1 billion in 1996. The revised forecast means Levi will have lost $3 billion in sales, or about 40 percent of its revenue base, in five years.
The United States and Japan remained Levi's weak markets. Sales in North and South America dropped 10.5 percent, to $682 million, while a rash of retailer bankruptcies in Japan contributed to a 21 percent sales decline in Asia, where revenue totaled $85 million in the quarter.Continue reading the main story


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Microsoft has announced that it will officially stop selling Windows 10 licenses via its website at January 31somehow marking the end of the reign of the most popular operating system in the world.
The operating system (which comes in Home and Professional variants) has been around since late 2014, with a full public release in July 2015. After the shaky misadventures of Windows Vista, 7 and 8, Windows 10 was a breath of fresh air – a return, felt by many, to the glory days of Windows XP and its simple and effective interface.
Although the new kid on the block Windows 11 arrived towards the end of 2021, which now makes it over a year, the adoption was not really fast; last December, the market share held by Windows 10 was still more than four times that of its successor.
If you want to buy a copy of Windows 10 Home or Pro directly from Microsoft (opens in a new tab), you will then have to do it before the end of January. The operating system costs $139 / £120 / AU$225 for the standard Home variant and $200 / £220 / AU$339 – no, we don’t know why the UK version of Windows 10 Pro is more expensive.
Not yet on Windows 11? Do not be afraid
Fortunately, Windows 10 will continue to receive key security and stability updates for some time to come. Microsoft had previously confirmed that official support for the operating system would end on October 14, 2025 – so there’s no need to rush if you haven’t upgraded to the latest version of Windows yet.
This Windows 10 end-of-sale news closely follows the real end of Windows 7, 8 and 8.1because Microsoft stopped providing updates for these operating systems on January 10. happy to see Windows 8 dead and buriedbut there are still a lot of users using versions older than 10, which are now open to bugs and cyberattacks.
It’s worth noting that while Microsoft will no longer be selling Windows 10 as a download through its website, third-party sellers will likely continue to carry a stock of installer codes for the operating system for some time to come – these won’t. suddenly become invalid. We also have no way of knowing what deals Microsoft might have with its OEM partners, so there’s every chance laptop and desktop makers will continue to buy copies of Windows 10 to use. in their products in the meantime. We can probably still expect to see the OS appear in everything from budget laptops to powerful gaming laptops This year.
If you are using an older operating system and prefer to use Windows 10 rather than 11 at the moment, it is also important to remember that you could already buy the operating system cheaper from other sources even before. that Microsoft announces that it will no longer sell it directly. . Amazon has cheaper keys, but you can also be a little tricky and get an OEM key from sources like Kinguin (opens in a new tab) for even less. Keep in mind, though, that these aren’t necessarily the most reputable retailers, so you’ll be assuming some risk.
It’s not really surprising that Microsoft is beginning the process of sending Windows 10 to the big motherboard in the sky. Adoption of Windows 11 hasn’t been as rapid as the tech giant probably would have liked, so this push will hopefully see more and more people upgrade to the latest version of the operating system. . So if you’re looking to upgrade, we have a practical Guide for you.
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Ongoing Round Led by Google Ventures and SparkLabs Global Ventures
San Francisco, CA, (December 11, 2013) – The Orange Chef Company, widely regarded as leaders of the connected kitchen category, today announced securing $1.2 million in seed funding led by Google Ventures and SparkLabs Global Ventures, with additional participation by Bertelsmann Digital Media Investments (BDMI), Kima Ventures, The Social+Capital Partnership, Graph Ventures, and several key angel investors. The company did not release financial terms.
Santiago Merea, The Orange Chef Company’s Founder and Chief Executive Officer, started the company with the intention of pioneering a smarter kitchen by creating simple tools to integrate smart technology into the traditional kitchen. “We’re very excited to have such amazing partners that share our mission of making the kitchen a place of confidence and discovery,” said Merea, “With their support, we will continue to grow our team and aggressively ramp up our product development.” Merea added.
The company also recently announced the planned release of their newest product,Prep PadTM, the iOS enabled bluetooth food scale for February 2014. Prep Pad provides real-time nutritional information for all raw ingredients and scannable food items. The food scale is the first of its kind, allowing users to visually obtain the full macro and micro-nutritional profiles of ingredients and meals as they create them, while saving to a personal profile. Users also have the option to then share their creations socially via Facebook, Twitter, Pinterest, and Evernote – among other features.
“I am very excited by our investment in The Orange Chef. Their smart food scale is one of those rare products that gets a WOW reaction from everyone we’ve shown it to,” said Frank Meehan, Co-Founder and General Partner of SparkLabs Global, “At SparkLabs Global we see tremendous global potential for The Orange Chef as they lead the way in the tech revolution of the massive food sector.” Meehan added.
The Orange Chef Company is poised to resume their rapid growth into 2014 – continuing to pioneer the connected kitchen market, expand its offering of smart kitchenware, and bolster its team internally.
About The Orange Chef Company
The Orange Chef Company is creating a smart ecosystem for the kitchen, one product at a time. Widely regarded as leaders of the connected kitchen category, all products are designed with an emphasis on simple design, maintaining the craft of cooking, and using local and sustainable materials. Established in 2011, The Orange Chef Company is privately held and headquartered in San Francisco. For more information, visit www.theorangechef.com.


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InfoSpace, an SEO service company has announced that it has signed an agreement to acquire TaxACT, an online tax solutions provider, for $287.5 million in cash. The company also states that the acquisition is expected to close in the 2012 first quarter.
The transaction is expected to be immediately accretive to InfoSpace earning per share and year one return on shareholder capital is expected to increase by 16% as per the company officials. Based in Cedar Rapids, Iowa, TaxACT is the second largest provider of online tax solutions. With approximately 70 full-time employees, TaxACT participates in the large and growing $20 billion tax preparation market. The Company had more than five million tax filers last season, with the vast majority of those customers filing online.
InfoSpace will fund the acquisition through cash on hand and debt combination and has secured a commitment of $95 million already of financing in connection with this transaction resulting in having a combined balance sheet with estimated cash and short term investments in excess of $90 million.
According to the company, upon completion of the acquisition, 2nd Story Software, the operating company for the TaxACT business, will become a wholly-owned subsidiary of InfoSpace, and will continue operations in Cedar Rapids, Iowa as a standalone business unit led by the TaxACT management team. TA Associates, the majority shareholder of the TaxACT business, will sell its full holdings as part of this transaction.


text: It’s the 4th time that the EFC Alumni Association has organized a Pre-Holiday Meeting at the EFC Foundation headquarters. Like every year, the meeting was attended by the Foundation Council, the Program Council as well as staff and friends of the EFC Foundation. The evening included a holiday fair where Scholars and Foundation staff sold their incredible, handmade items. The auction income will be spent on a holiday package for a Scholar in need. Guests wished each other well for the upcoming holidays, sang Christmas carols and enjoyed traditional meals.


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HARARE – Listed agri-industrial concern, National Foods Holdings Limited’s revenue for the six months to December 30, 2017 slumped 10 percent to $147 million compared to $164 million achieved in the same period in the prior year on subdued volumes.
Group chairman Todd Moyo said the decline was also due to third party products which were traded in the previous financial year.
“Ignoring these products, revenue decreased by 4, 6 percent on a like-for-like basis driven mainly by maize and stockfeed,” he said.
Profit before tax increased 41 percent to $11, 9 million compared to $8, 4 million in the comparable prior year period driven by recovery in margins in the maize division, rice trading, good results from Pure Oil and a significant reduction in operational expenditure on the back of the takeover of the former depots by Gain Cash and Carry.
Total comprehensive income for the period under review jumped 50 percent to $9 million.
At 262 000 metric tonnes, total volumes were 10 percent below same period last year due to third party products that were traded through the former depot network last year.
The products are no longer traded by National Foods, therefore on a like-for-like basis, volume decline was 7, 3 percent represented mainly by stock-feed where volumes were 28 percent lower and a 17 percent decline in maize volumes.
The stockfeed division was also affected by the avian influenza outbreak which compromised the availability of day old chicks.
Natfoods declared a 6, 2 cents dividend per share.


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The Alternative Investment Market-listed group, which claims to own more sport content than any other British firm apart from the BBC, is paying £2m for a business that will take its customer base to more than 5.5m.
Rivals owns and operates online brands including rivals.net and Formula 1 website planetf1.com as well as zurichrugby.co.uk and the official site of Canadian Grand Prix driver Jacques Villeneuve.
Since listing two years ago, ukbetting has made a string of deals to build a sports content business alongside its core gambling arm. It bought TEAMtalk for £14.4m in May last year.
Vice chairman Peter Dubens said: 'We are now among the largest independent online sports information providers in the UK and this latest acquisition will allow us to further improve the scope and quality of information we provide.'
Rivals was formed by the merger of Rivals.net and 365 two years ago. After the merger, Chrysalis and Eckoh Technologies each held a 43% stake. Rivals became profitable on an underlying basis in the three months to 30 November.Reuse content


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AutoExpo set for high-profile unveilings
Tuesday 29 December 2009
Several carmakers have confirmed global debuts of production or concept models to be held at January's AutoExpo, which kicks off next week in India.
Chevrolet, Ford, Honda, Maruti, Suzuki and Toyota are among the manufacturers slated to release vehicles at the show, which runs January 5-11 at the Pragati Maidan centre in New Delhi.
General Motors has confirmed that it will display the Chevrolet Beat, the brand's latest entry to the Indian market, alongside five other production and concept models at the show. Many, such as the Chevrolet Cruze, Optra Magnum and Captiva Extreme, have been specifically adapted for Indian roads.
Ford CEO Alan Mulally announced the Figo back in September, but it will go on public display for the first time at AutoExpo. Designed specifically for the Indian market and manufactured in Chennai, the Figo is a strong signal from Ford that it intends to aggressively compete in India's small car market. Approximately $500m has been invested in the production plant to enable production of 200,000 units annually.
"We're confident that the new Ford Figo will be extremely attractive to Indian car buyers," said Michael Boneham, president and managing director, Ford India. "We believe Ford Figo is a big game-changer for Ford that will help transform our brand into a volume player in India."
Honda will unveil the New Small Concept, a compact vehicle designed for India and emerging nations, alongside the CR-Z Concept, a concept model for a new hybrid car. Apart from the new products, Honda will also display its current range of cars which includes City 1.5 V, New Civic, Accord V6 and New CR-V.
Maruti Suzuki will unveil the Concept R3, the Indian manufacturer's first compact multi-purpose vehicle (MPV) concept, which has been designed and built in India over the past nine months. Maruti has one of the largest stands at the show and is expected to unveil other highly-anticipated models, with 17 vehicles showcased in 4,690 square meters of space.
Toyota is readying its new compact vehicle for a world premiere at the AutoExpo. The entry level vehicle is currently codenamed EFC (Entry Family Car), and Toyota is reportedly aiming to produce 70,000 in the first year of production, thought to be commencing in late 2010. Thirteen other production and concept vehicles will also be on display from the manufacturer.
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The big supercruiser motorcycles seem to gain most of the headlines. Polaris Industries (PII 1.84%), however, understands that women and new riders represent the key to future growth, and the 2015 model of its 69 cubic inch, 1133 cc V-twin Indian Scout, which it unveiled at the annual Sturgis, S.D. Motorcycle Rally last week, shows the company is looking to compete in those two markets.
Harley-Davidson's (HOG 0.52%) Sportster has long been seen as a classic cruising bike, perfectly built for those two demographics. Women Riders Now, for example, ranks three Sportster models among its best top-nine cruisers for women just starting out riding. Last year, Harley unveiled its own strain of new, smaller bikes, the Street 500 and Street 750, and said it was targeted toward younger, urban riders.
Harley currently has a commanding lead in aming its "outreach customers" -- women, African-Americans, and Hispanics. IHS Automotive data indicates that Harley's market share among Caucasian women exceeds 62%, is more than 54% with African-American men and women, and is almost at 60% among Hispanic men and women. Perhaps more impressive is that its nearest competitor in each of those categories fails to break into double-digit percentages.
Women, though, might be the linchpin of it all. The latest statistics from the Motorcycle Industry Council show that they've become quite a force in riding:
- Some 12% of all motorcycle owners are women, up 30% in the past decade.
- Nearly 25% of all motorcyclists are women, or 6.7 million out of the 27 million people in the U.S. who operate a motorcycle.
- About 40% of women owners ride a cruiser-style motorcycle.
Harley doesn't say exactly how many women buy its bikes, but Bloomberg News estimates that around 20,000 bikes will be sold to them this year.
I'll admit to being a fan of almost all of Harley's big bikes (though my wife is wearing my Softail Deuce on her left ring finger these days), but the Indian revival, particularly the Scout model, renews my appreciation for this classic line of bikes, and could cause some disruption in the industry.
Much like Harley did with its Street bikes, Indian has given the new Scout an identity all its own, not going back to its heritage, but building on it.
The Scout was one of Indian's most popular bikes during the three decades between 1920 to 1950, becoming a preferred choice for racers and performers. There was a seemingly half-hearted attempt to resurrect the bike more than a decade ago, between 2001 and 2003, but that ended when the whole company collapsed and it wasn't until ATV-maker Polaris bought the nameplate in 2011, and introduced three all-new Indian-branded motorcycles based on historic styling, that it once again became a nameplate to be reckoned with.
With its size, lean, and rake, the Scout is perfect for the new target demographic giving Harley a run for its money. The new Indian's fat front tire provides balance, the handlebars are a good fit for ease of grip and steering, and the transmission provides for a smooth shift experience. But don't think of it as just a "starter bike." That 100 horsepower and 72 foot-pounds of torque is a cool, muscular ride for experienced riders as well.
The lightweight bike holds to the road, and Motorcycle USA says its goes smoothly through its gears without clunking and thunking, with the V-twin letting you accelerate higher without red-lining.
Yet, as much as the Scout has received rave reviews -- Cycle World gave its Reader's Digest version of its first-ride review as "Buy it! The Scout rocks." -- it could still face challenges in unseating Harley for the throne. With an MSRP of $10,999, it is Indian's cheapest bike; but it's more expensive than both Street models or its Sportster, as almost all of its models start at thousands of dollars less.
The Scout, though, gives the rider extra power, extra muscle for that higher price tag and could very well be the better value. It may be Indian's first real effort at stripping market share of the key growth customers from Harley-Davidson.


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AFP, published on Thursday 24 March 2022 at 16:16 hrs
The cessation of Renault’s activities in Russia on Thursday is stirring some excitement among the French manufacturer’s employees, even though the French factories have been little exposed.
“Renault hasn’t been in top shape for two or three years, we didn’t need that in the current context, it’s an extra fear,” said Jean-FranÃ ois Pibouleau, CGT deputy of the central union.
“The crisis of components such as the evolution of the geopolitical situation in an open economy context (…) highlights the vulnerability of large groups like ours,” the CFDT, for its part, responded in a press release, calling for the creation of 100% integrated “production plates”.
The impact of the suspension of Renault’s Russian activities is expected to be limited initially because “we are not receiving parts from Russia”, assures Jean-FranÃois Pibouleau for whom “the semiconductor crisis” remains the biggest annoyance of the moment .
Only the Le Mans plant supplied some elements to Russia, according to the CGT, namely “chassis or rotary elements”.
“The impact will be much more financial, on the results,” said Mariette Rih, central FO union representative.
Renault warned it was “forced to revise its financial outlook for the year 2022 with a group operating margin of around 3%”, up from more than 4% previously.
In anticipation, Renault plans to include an adjustment cost of EUR 2.195 billion in its accounts for the first half, the value of its assets in Russia.
The French manufacturer has its own factory near Moscow, which employs 2,500 people and produces SUVs Duster, Kaptur, Arkana and Nissan Terrano.
All workers “have been put on leave”, said Jean-FranÃois Pibouleau. “We’ve asked HR (human resources) to update us quickly on what they’re up to so that employees are as unimpressed as possible,” he added.
Renault primarily owns 69% of AvtoVAZ, the major Russian manufacturer that produces the two best-selling cars in Russia, the Lada Vesta and Granta. The 40,000 employees of the Togliatti factory have been on holiday for three weeks since March 16 due to a shortage of imported components. The French manufacturer plans to assess “the possible options regarding its participation”.
On Wednesday, Ukrainian President Volodymyr Zelensky had denounced Renault’s presence in Russia before the French National Assembly, while the head of Ukrainian diplomacy, Dmytro Kouleba, called for a boycott.
“We do not agree with that because the boycott is the workers who suffer immediately,” lamented the CGT.


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Every year sponsors eagerly prepare their marketing campaigns for the biggest American football event of the year. Big game advertisers have masterfully used social media in tandem with their television commercials, using their content to prolong hype and raise awareness. To find out who won the Social Bowl - we compared engagement from official FMCG and Auto sponsors to see which brands took home the trophy!
While some watch for the game, others stay tuned for the commercials. The sporting championship has become a cultural phenomenon, which adds pressure to competing brands. When it comes to content, FMCG and Auto brands are the most active, frequently using the power of social media to transform their short fame on television into viral success.
Game advertisers are using key social media metrics, to measure the impact of their campaigns. We can see that FMCG brands dominated on Twitter in terms of interactions, audience growth, and number of mentions during the week of the event. This is a huge contrast to Auto sponsors.
Auto brands consistently gained more followers throughout the entire year. However, as the big game approached, FMCG brands were able to take the lead, surpassing Auto brands in follower growth for the first time.
The quality of your content can make all the difference. For example, Audi game sponsor only Tweeted twice, yet they received nearly 4,300 total interactions. Compare this with other Auto brands who received less interactions though they Tweeted 5x more during the big game.
Audi’s most engaging post on Twitter captivated their audience through the use of emotion. The video cleverly associates their 205 Audi R8 launch to the golden time of American space exploration, accompanied by David Bowie’s Starman Ballad.
Coca-Cola was the all-star brand for the FMCG industry on Twitter, garnering nearly 5,000 interactions for each of their 10 Tweets during the game. While Doritos ultimately took home the prize, earning 1,609 interactions per Tweet, they published 7x more! This further illustrates the importance of publishing meaningful content – forget about quantity, it’s all about substance.
Game sponsors understand that each social media platform has different strengths. As a result, they were able to effectively adapt their strategy accordingly, to prolong their moment in the spotlight.
While Twitter content was dedicated to the actual game day, advertisers used YouTube to raise awareness – publishing campaign teasers weeks before the match. In fact, all of the top ten videos were published before the game. Advertisers cleverly released the majority of their campaign videos as interest grew, which was a perfect way to reel in viewers and promote their upcoming TV spot. When it comes to content, FMCG brands were able to get more views out of their YouTube videos compared to Auto brands.
The key to social media success – is to develop a unique strategy for your different channels. When it comes to real-time publishing, Twitter shines. Advertisers Tweeted during the game and experienced the triumphs and defeats with their audience. YouTube on the other hand was used as a promotional tool to help spark social media awareness, bringing more fans to the television screen.
FMCG brands mastered the art of game advertising and stole the show away from Auto brands. This was likely because audiences were able to relate to their products more, especially since they were munching on these goodies before, during, and after the game. This gave the FMCG industry a clear advantage because their products are a tasty fit for the biggest American sporting event of the year.


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Amazon AWS released new functionality today that supports “full control of network topology including subnets and routing”. The new features are accessible via the web console, command-line tools, and the API. The feature set does not have additional cost associated with it.
The new functionality should address some concerns about the public cloud being able to host more complex networking scenarios.
More information about the new features can be found over at the Amazon AWS blog:


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MarketingPulse Online attracts more than 21,000 viewers
HONG KONG, Apr 1, 2021 – (ACN Newswire via SEAPRWire.com) – MarketingPulse Online, a two-day virtual conference organised by the Hong Kong Trade Development Council (HKTDC), attracted more than 21,000 viewers from more than 50 countries and regions. Under the theme “Marketing for GOOD”, a total of 27 seminars and workshops were staged during the conference, bringing together more than 40 marketing and advertising experts from around the globe to share their creative strategies, examine the latest marketing trends under the new normal, and share success stories in the area of digital transformation.
Exploring impact of digital transformation
Focusing on digital transformation and the impact of new marketing technologies, one of the speakers was Mayur Gupta, who was Global VP for Growth & Marketing at Spotify and has been named on the Forbes list of the world’s most influential chief marketing officers. Now working as Chief Marketing and Strategy Officer at Gannett – USA Today Network, Mr Gupta discussed how marketers can respond to behavioural shifts by leveraging technologies in the era of uncertainty, and by predicting future growth trends amid the digital transformation taking place in marketing. “COVID-19 basically punched all of us in the face, and it has taken us back to the basics of what marketing always had to be, and what it ought to be – the three simple Ps, which are defining your purpose, the promise you make to the consumer that reflects that purpose and, ideally, the product you deliver matching that promise,” he said.
Jeny Yeung Mei-chun, Commercial Director, MTR Corporation Limited, shared her tips on how brands can connect with customers and the community at every digital touch point, with insights on digital acceleration in the future. “The MTR’s mission is to keep the city moving. Like transportation companies in many other cities around the world, the MTR is going through a smart journey to upgrade its capabilities to help the community. So, a lot of the features in our new app revolve around how customers can use our services better, but the other major component is lifestyle information since passengers are now demanding more than the basic core services.”
Positive branding amid challenges
Arjan Dijk, Senior Vice President and Chief Marketing Officer at Booking.com, shared perspectives on how major brands have been responding to shifting consumer behaviour under the new normal, giving his predictions for marketing trends and tourism development as businesses begin to recover. “All marketing activities have to be performance-driven during the pandemic. Going forward, I see huge opportunities for staycations as well as ‘workcations’. I think many of us are thinking about our summer and imagining going on a week’s vacation and staying a week longer to work.”
teamLab shares artistic journey
Navigating the confluence of art, science, technology and the natural world, the globally renowned art collective teamLab unveiled their creative philosophies and immersive experiences to the audience at MarketingPulse Online. A senior member from teamLab said: “[Digital works] can free us from materials and we are no longer stuck in one room. Boundaries are just an illusion that humans make. New ideas both come from and affect old ideas.”
Examining the impact of livestream commerce and short video marketing
Eray Li, General Manager of Southern China, Kuaishou (Magnetic Engine), has also worked at digital giants Tencent, Cheetab Mobile and Alibaba. At the conference he explained Kuaishou’s strategies and tricks of the trade to seize the significant opportunities presented by their platform. “There was a user base of 818 million for short videos at the end of last year, accounting for 87% of netizens. The average daily time people spent on short videos exceeded the time spent on instant messaging, video calls, et cetera. In 2020, Kuaishou’s e-commerce sales were Rmb381.2 billion, and 84% of its users prefer to follow the recommendations of livestreamers.”
Cracking the code for Gen Z
Timothy Armoo, founder of Fanbytes, a leading influencer marketing agency, shared some of the latest strategies to win the hearts of the young generation through video content, influencer engagement and algorithms on Instagram, TikTok, YouTube and other social media. “Gen Z have short interest spans, not attention spans,” he said. “In the past, you needed a big budget to advertise on TV, but the world of social has created a more level playing field where anybody can play – small brands as well as large. But this also means Gen Zs have a lot of influence; in fact, so much influence that any brand that does not take them into consideration is playing a losing game.”
Online platform runs until 30 April
The MarketingPulse Online platform will remain open until 30 April. During this period, industry members can continue to make use of the different features of the platform and also review content from previous events.
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via trade publications, research reports and digital news channels. Follow us on Twitter @hktdc and LinkedIn
Please contact the HKTDC’s Communications & Public Affairs Department:
Christine Kam, Tel: +852 2584 4514, Email: email@example.com
Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)


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Yamaha has officially filed new trademark applications for the upcoming Yamaha R9. Yamaha confirmed the development of the new middleweight sports bike earlier this week but filed a new trademark at a later stage. Yamaha filed trademark applications for the name 'R9' across certain International markets including European countries, the UK, the USA, Canada, Australia, and New Zealand. We haven't heard what name will be filed for the Asian market. There is a rumor that YZF-R9 could be filed in the Asian market.
The Yamaha R9 will be based on the Yamaha MT-09 platform with a completely new engine. R9 could get a new 890 cc three-cylinder engine that makes 115 bhp at 10,000 rpm and 93 Nm of peak torque at 7,000 rpm. The R9 will be equipped with a six-axis inertial measurement unit (IMU) as standard, three-mode traction control, slide control, and wheelie mitigation, offering the perfect combination of electronic rider aids for a fully-faired sportbike. It will be also equipped with a new Quick Shifter system that raises and lowers gears.
In terms of styling, the R9 is likely to sport an aggressive styling. This motorcycle is likely to be based on the MT-09 which is also yet to be launched in the Nepalese market. The Yamaha R9 will come with new advanced features that include wheel protection, traction control, anti-skid, slide control, anti-lift to control wheelies, and ABS control during curves. The bike will also include an upside-down front suspension with a new TFT display. It could resemble the larger and sharper body panels with multiple riding modes
All New YZF-R9 is expected to launch at the very end of 2021 or at the latest in the first quarter of 2022. SO far we don’t think Yamaha would launch the YZF-R9 in Nepal anytime soon. Yamaha has said clearly they would focus on mass-market and entry-level premium bikes for a while. More details on the Yamaha YZF-R9 including the pictures are expected to be out in the next few days.


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Pass higher prices to consumers? “Total nonsense,” says Rewe.
Prices are going up in supermarkets and discount stores. According to Rewe, this will continue, but only up to a point. You don’t have to accept every price increase, says the boss. The industry should not just complain, and must take countermeasures on its own.
DConsumers cannot ignore the prices in supermarkets and discount stores that are currently increasing. The question now is how long and to what extent inflation will continue. And the retail group Rewe is now positioning itself as a pioneer for consumers.
“We are in difficult negotiations with the industry”, says CEO Lionel Souque when presenting the balance of the Rewe Group. Because there are many demands and high demands. “But we can’t just say yes to everything.” Simply passing costs doesn’t add up.
Souque emphasizes that his company, which includes the supermarket chain of the same name, Rewe, as well as the discount store Penny and the Austrian retailer Billa, carefully examines each claim. “Because we have a large number of suppliers, we are active in different countries and we also have deep insights into the calculations thanks to our own brands, we can understand what is justified and what is not.”
Of course, Rewe sees that raw materials, energy and logistics have become enormously expensive in some cases. Therefore, price increases would also be granted to manufacturers. “But the industry must not only complain, it must also react and take action.” Rewe itself is already saving on heating and lighting in stores.
In addition, Purchases monitors to what extent the problems are homemade. As an example, Hans-Jürgen Moog, head of purchasing in Rewe’s sales line, cites dealing with upstream suppliers. “We take supplier issues seriously. But we also pay attention to who has prepared how in recent months and has stocked up on raw materials, energy and logistics capabilities.”
Because tight supply chains have not only existed since the beginning of the war, but also during the Corona period. Some manufacturers have long-term partnerships and supply contracts, others are alone in the spot market, which may have made them a lot of money in the past, while now they want to shift costs when it’s particularly expensive there.
allocate additional costs
But Rewe is not prepared for this, as Souque stresses. “We cannot compensate for every management error in the industry. You can’t work like this”, says the CEO.
Souque believes that everyone involved has an obligation to bear the additional costs: manufacturers, retailers and consumers. Your own company has already prepaid stable prices on the shelves. “We have already invested a triple-digit million dollar amount in the range this year.” Because it is “total nonsense” to believe that everything can happen to the last. “Who is going to pay for that?” Therefore, the Rewe Group is preparing for a loss of performance. “We are aware that we will have to sacrifice our profit margin this year.”
At least in the food retail division, the largest business area of the Rewe Group. In addition, the company, which last year had 380,000 employees in 21 countries, foreign sales of 76,500 million euros and a net profit of 756 million euros, is also present in the DIY store sector with the Toom brand, with Lekkerland in the convenience sector and with brands such as DER Touristik, Jahn-Travel, ITS and Meier’s world travel in tourism.
And the travel business in particular is currently experiencing a renaissance, as the responsible board member Sören Hartmann reports. “We’ve been seeing a real booking boom since January.” So far, the numbers have even been above the level of 2019, ie the last year before Corona.
With the outbreak of the war in Ukraine there was a brief recess. “Everyone was scared for a week. After that, however, the desire to travel spiraled out of control again and the booking boom continued,” Hartmann describes.
“So we think we can get back to more than 80 percent of a normal summer.” Kerosene surcharges for bookings can be expected in the coming weeks, for example, Hartmann expects 50 euros on medium-haul routes. But people are so hungry to travel that this surcharge should be accepted.
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We are pleased to announce the sale of Bluelab Holdings Limited (“Bluelab”) to Pioneer Capital and the New Zealand Superannuation Fund. The transaction, which went unconditional on 24 September 2021 and settling in early October 2021, will result in Oriens Capital Private Equity Fund LP (“the Fund”) exiting its stake in full for cash consideration, whilst existing owners Greg and Mandy Jarvis will continue as minority shareholders alongside the new owners.
Bluelab is a global leader in the production of measurement and automation devices that support crop performance in the Controlled Environment Agriculture market. The Fund invested in Bluelab in 2018, as a minority shareholder alongside the founders Greg and Mandy Jarvis.
Over the course of our investment, Bluelab has achieved many key milestones, including:
- Launched both new and improved products to market, and expanded production throughput by 400%
- Strengthened the on-the-ground presence in North America including a new office and warehouse
- Developed digital platforms and content (eCommerce, virtual education as well as a new website incorporating direct to customer sales functionality)
- Significant human resource investment in innovation, production, sales and a strengthened executive capability, creating 55 new jobs and now employing 134 FTE’s
- A focus on ESG through the implementation of a Global Impact Committee and a new purpose “The art of growing for a healthier world”
- Winner of the Excellence in Innovation award at the 2019 New Zealand International Business Awards
Bluelab has enjoyed strong macro-economic tailwinds consistent with our original investment thesis. This envisaged a world requiring efficient nutrient management and effective use of scarce water resources, and delivering greater grower productivity. Over the course of Oriens’ investment period, Bluelab’s products have enjoyed strong demand, particularly in its largest market, the USA. This has led to significant revenue and earnings growth and increasing scale.
Oriens Capital would like to acknowledge the Bluelab management team, led by Greg and Mandy Jarvis, for its outstanding performance throughout Oriens’ investment period. We believe Pioneer Capital and the New Zealand Superannuation Fund will make excellent owners and stewards of the business alongside Greg and Mandy, during Bluelab’s next phase of growth.


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Marc was in the second month of a four-month kayak trip exploring the nooks and crannies of Baja’s 800-mile coastline when he received a cryptic message from home. Call Bill Tanler. A quick phone call from Bahia de Los Angeles and the deal was struck. They would launch Bicycle Retailer & Industry News in January 1992. Tanler, who passed away from a heart attack in 1999, lived to see BRAIN become the dominant trade magazine in the industry. Sani, who now serves as publisher, has helped steer the magazine over the years through several wrenching corporate transitions. Sani is a former wire service and newspaper reporter who thrives on news whether in print or on the web. He became interested in cycling and joined a local cycling club in the mid 1980s, but candidly admits that skiing is his first love and cycling was one way to stay in shape for backcountry powder.
All articles by Marc Sani
TAIPEI, Taiwan (BRAIN) — For mountain bikers over 40, MTB tires from IRC were a "must have" back in the 1990s. But the Japanese company and its bicycle tires disappeared from the U.S. market after a disastrous fire at its South Korean factory pushed the company out of the market.
TAIPEI, Taiwan (BRAIN) — A roundup of chatter at the show.
TAIPEI, Taiwan (BRAIN) — It’s a bold concept. Think of an Airbnb-like website where cycling consumers can find and book rental bikes, bicycle-friendly hotels and hostels, tour operators andtour guides, events and races all with the click of a mouse.
TAIPEI, Taiwan (BRAIN) — The numbers are sobering. Last year, Taiwan’s bicycle exports to the U.S. market plunged 27.6 percent, and the overall dollar value dropped 27 percent.
SALT LAKE CITY (BRAIN) — Vista Outdoors is facing a $5 million lawsuit over allegations that it misled investors about the financial condition of its shooting sports division during a six-month period from Aug. 11, 2016 through Jan. 13, 2017.
TEMPE, Ariz. (BRAIN) — It was billed as the Best Ideas Contest. Five dealers offered attendees at the annual IBD Summit their best ideas to improve their operations and profitability. And the winner as selected by the audience in a secret ballot was . . .
TEMPE, Ariz. (BRAIN) — The National Bicycle Dealers Association is in the midst of a significant restructuring. The association’s board of directors has eliminated the vice president position held by Fred Clements and plans to set up a new office in the Boulder, Colorado, area.
SAN JUAN CAPISTRANO, Calif. (BRAIN) — Some 60 industry executives, most affiliated with the e-bike industry, took time at a conference Thursday to review its recent successes and to set new goals for 2017.
TAICHUNG, Taiwan (BRAIN) — Jerry Huang, who retired from Jagwire after 25 years with the cable-housing manufacturer, has launched his own line of products under the Ciclovation brand.
MORGAN HILL, Calif. (BRAIN) — The 2017 season has hardly begun and the industry’s two biggest suppliers — Trek and Specialized — are already re-pricing their bicycles. Specialized prices went up; Trek’s prices went down.


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The average Chinese person now accounts for more carbon emissions annually than the average European
The latest Ferrari glitch may or may not be a flaw, depending on how often you plan to use your $234,000 sports car in kidnappings
NASA's decision to hire both Boeing and SpaceX to design and build new space shuttles illustrates a debate in government contracting as to how many suppliers is best
The photo agency is increasingly making its work available to customers without a licensing fee, with the plan to develop a business model at some point in the future
The popular premixed funds are supposed to get more conservative as retirement gets closer. What “conservative” means is open to interpretation
Airbus has reduced the width of a bathroom on the new A320s to restore space in the food-preparation area
Has anyone enjoyed being a CEO more than Oracle's sort-of outgoing Larry Ellison?
Business students at Wharton reveled in a ritual gathering of MBAs where people leave their personal brand at the door
Evan Thornley, Australian multimillionaire and co-founder of online advertising company LookSmart, has since apologized
Seokyong Lee/Bloomberg News
Korean electronics giant Samsung has spent years honing its design chops. But nothing underlined the company's emphasis on design as a differentiator more than promoting former creative chief Choi Gee Sung to CEO last year. Choi, 58, joined Samsung's trading arm in 1977 and worked in design and marketing to build the company's market share in mobile phones, televisions, and digital media. Credited with pushing Samsung into first place among TV manufacturers, Choi's design savvy, applied across the company he now leads, could significantly impact the future of the industry.


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Now is the time to change from gasoline-powered cars to electric cars and hybrid cars. Even President Barack Obama has challenged automakers to put one million electric cars on the road by 2015. And many industry experts predict electronic vehicles will transform not only the automobile industry, but our lives. Just like the gasoline-powered cars led the development for the entire industry ranging from the ubiquitous filling stations to fast-food restaurants along highways. Along with this change, electric cars are expected to hit mass production and it's reasonable to think about what we need for developing smart cars and electronic vehicles.
To keep up with this change, the Smart Vehicle and Smart Road 2011 Seminar was held at Kintex from April 5 to 6 for two days while the Seoul Motor Show 2011 is showcasing various electronic vehicles in the hall. The seminar was for understanding the various changes in the ecosystem brought about by the appearance of new intelligent cars, such as smart cars and electric vehicles.
About 150 experts of the automobile industry including, Scott Mccormick from Connected Vehicle Trade Association and Stefan Hoepfel from Siemens were present to share information on the latest business models in Korea and the world's automotive industry as well as up-to-date industrial technologies and trends.
Stefan Hoepfel, Senior Expert Sales in Siemens had a presentation on "Electric Vehicles needs IT Technology". As oil prices peaked high in the world and the increase of CO2 emissions endangers climate, we are facing the need for a new way to use energy, which means achieving low-carbon economy is imperative. Accordingly global electricity production is expected to increase by 60 percent by 2030.
In an interview with IT Times, Stefan Hoepfel said, "Electric vehicle charging infrastructures are essential for electric cars in order to drive up the electric vehicle market," he continued, "Building an infrastructure is the most important factor to utilize and develop the electronic vehicles industry and market. Let's assume that you travel by electronic vehicle, you need to charge the battery for your vehicle and it might be really inconvenient if there is a few charging stations in the areas. In that manner, integration into household, parking solutions and electronic power systems as well as urban structures will be taken place in order to provide you with electronic mobility."
He added, "Electronic vehicles and electro-mobility infrastructure are part of the interacting smart gird, and the smart grid will ensure tomorrow's mobility." Lastly, he said, "Information and communication technologies will enable the interaction between electronic vehicles, connecting infrastructure and the power grid."
The seminar concluded with many other industry experts dealing with smart roads, technologies and standards as well as market status.


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Cincinnati's John Morrell to be eaten up in biggest-ever purchase by a Chinese firm
Cincinnati pork producer John Morrell is poised to be gobbled up by a Chinese holding company after its parent company's shareholders approved the sale on Tuesday.
Smithfield Foods Inc. (NYSE: SFD) shareholders voted overwhelmingly to approve the sale to Shuanghui International Holdings Ltd., with more than 96 percent of votes cast in favor of the transaction.
John Morrell, headquartered in Cincinnati, is part of the Smithfield Foods family of companies. Smithfield is the world's largest pork producer.
John Morrell has 9,700 employees in 17 facilities across the U.S. A Smithfield spokeswoman said the Chinese company will honor all existing collective bargaining agreements.
"We are pleased with the outcome of today's vote and thank all of our shareholders for their support," Smithfield president and CEO C. Larry Pope said in a news release. "This is a great transaction for all Smithfield stakeholders, as well as for American farmers and U.S. agriculture. The partnership is all about growth, and about doing more business at home and abroad. It will remain business as usual — only better — at Smithfield, and we look forward to embarking on this new chapter."
The transaction is expected to be completed by Sept. 26. Under the agreement, shareholders will receive $34 per share in cash. Once the deal is closed, Smithfield’s common stock will cease to be publicly traded and the company will become a wholly-owned subsidiary of Shuanghui International Holdings.
Brownfield covers technology, startups, manufacturing and courts.
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STUART, Fla. – Lenco Marine was recently included in Inc. magazine's list of America's fastest-growing private companies, it reported in a statement yesterday.
Since 1985, Lenco has produced electric trim tabs, hatch lifts and trolling motors specifically built for the marine environment. The company ranked 200 out of 500 companies on the list.
The Inc. 500 Special Issue’s list is compiled according to sales growth over the past five years. To be eligible, companies had to be independent and privately held through its fiscal year 2002, needed at least $200,000 in sales in the base year of 1998, and 2002 sales had to exceed 2001 sales, according to the company.
"Even in a down economy, it is clear that companies with innovative products can succeed," said Richard DeVito, president of Lenco Marine. "We are proud to be part of this prestigious list."
- For more of the latest news, click here.


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Daniel Cook, Managing Editor
Go green. Some of you might consider that catch-phrase marketing buzz best suited for administrators who ride bikes to solar-paneled facilities in the Pacific Northwest. But we’re here to tell you that the benefits of sustainability go beyond reducing carbon footprints and ending global warming. Going green can pay you back. Big time. Here are some ways to pad your bottom line with environmentally friendly solutions to everyday tasks…
3. Reprocessed single-use devices
Patricia Keenan, RN, CASC, ships the single-use burrs, blades and shavers used at the Orthopaedic Surgery Center of Clearwater to a certified reprocessing company to save her facility thousands.
The administrator and director of nursing at the Florida surgery center says her staff places used disposables into a drop box located in the decontamination room. A rep from the reprocessing firm stops by twice a month to package the used items and ship them away for refurbishing. Within 7 to 10 days, the items are returned to the facility, ready for use. Buying refurbished supplies costs 40% to 50% of the original manufacturer’s price, says Ms. Keenan, which saves her facility upwards of $45,000 a year in disposable purchasing costs. It has also slashed 75% off of the amount of regulated waste — that’s disposed of in large red boxes at a cost of $15 each — generated by the facility. “We used to produce 50 boxes of waste per week,” she explains. “Now we’re down to just 20.”
Ms. Keenan is also quick to note the manpower hours she’s saving by reprocessing single-use devices. Fewer supplies are purchased, meaning fewer purchase orders are filled out. “The less amount of time and the fewer people involved in the purchasing of items reduce monthly salary expenses spent on supply management,” she explains.
Those hourly-wage savings are realized on the back end, too. One of Ms. Keenan’s surgical techs spends 5 to 6 fewer hours each week organizing and disposing of those 20 boxes, freeing him up to focus more of his energy on patient-care responsibilities. And that, in turn, means Ms. Keenan doesn’t have to hire as many PRNs to make up for the time he used to spend wrangling waste outside of the ORs…


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Latest Tooth bleaching Stories
Sunset Plaza Dental is now offering complimentary consultations for various dental treatments to help patients start their journey to a healthy, beautiful smile. West
Dr. Philip Shindler is now offering a special on Invisalign treatment.
For a limited time, Dr. Alan Fame and his team are now offering a spring special on Invisalign.
Velscope® is revolutionizing dental screening for oral cancers and abnormalities. Scotch Plains, NJ (PRWEB) May 18, 2015 NJ Top Dentist, Dr.
Sunset Plaza Dental is now offering several special promotions and discounts on Invisalign consultations and treatments, regular and Zoom teeth whitening treatments, and Lumineers.
LONDON, May 6, 2015 /PRNewswire/ -- This report analyzes the worldwide markets for Toothpaste in US$ Thousands by the following Product Segments: Regular Toothpaste, Anti-Caries Toothpaste,
To address a concern of some teeth whitening customers, Whiter Image Dental will begin offering its spa and salon clients iBrite sensitivity toothpaste. Atlanta,
Dr. Scheiner's Smile Makeover Patient won the Miss Maryland title. Scotch Plains, NJ (PRWEB) April 22, 2015 NJ Top Dentist, Dr. Arthur G.
Sunset Plaza Dental team is pleased to now offer patients valuable savings through new Spring specials that will beautify your smile. West Hollywood, CA (PRWEB)
To address a major concern of teeth whitening patients, Whiter Image Dental will begin offering its dental clients iBrite sensitivity toothpaste. Atlanta, GA
- To befool; deceive; balk; jilt.
- An illusion; a trick; a cheat.


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Now that Apple Inc. (AAPL) has finally lifted the veil on its next generation iPhones, the speculation has begun on whether the new phones will trigger another "super cycle" of customer upgrades, similar to the one experienced for the larger-screen iPhone 6.
Several Wall Street analysts seem to think so. Many are calling the special edition iPhone X Apple's most revolutionary phone to date because of its Super Retina organic LED edge-to-edge display, glass casing, wireless charging technology, AR capabilities and 3D sensing chip (Apple's other new models, the iPhone 8 and 8 Plus, represent a more modest upgrade from the iPhone 7). The analysts argue that the latest iPhones, coupled with pent-up demand from an aging iPhone user base, could propel the tech giant's bottom line to new record-breaking heights.
"We continue to feel confident that the iPhone X is likely to spur a consumer 'supercycle,' à la the iPhone 6," wrote Bernstein analyst Toni Sacconaghi.
Meanwhile, JPMorgan analyst Katy Huberty wrote that she believes Wall Street is underestimating how much pent-up demand from existing iPhone owners could lead to a surge in Apple's fiscal 2018 earnings per share. She estimated that there's a user base of 231 million people with two-year-old iPhones that are in need of an update. As a result, Apple could see earnings of $11.80 per share in 2018 vs. Wall Street's expected $10.81 per share.
Other analysts, including Amit Daryanani of RBC Capital Markets, also say that the form factor upgrade will be enough to to drive one of "the strongest iPhone cycles in recent years."
"This year's event marked one of the most highly anticipated product announcements in recent years, and from a product perspective, the company did not disappoint," Daryanani added.
A possible iPhone super cycle also means Apple would need to break its own record, set in 2015 after the release of the iPhone 6. The iPhone 6, released in Sept. 2014, unlocked an avalanche of demand from users who had stuck with the iPhone 4 or 5 and were looking to upgrade. It was released just as the phablet -- part phone, part tablet -- had its breakthrough moment and, all of a sudden, users wanted smartphones with extra-large screens.
More of What's Trending on TheStreet:


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Apple reportedly planning to slow down hiring into 2023
Apple is planning to slow hiring in 2023, according to Bloomberg, making it the latest big tech company to shift its hiring plans.
The changes won’t affect every team, Bloomberg reports, but some groups won’t see increased staff next year and some positions won’t be backfilled. Apple is also still prepping to launch its long-rumored mixed reality headset in 2023. The company didn’t immediately respond to a request for comment.
Many tech companies have adjusted hiring in recent weeks. Google CEO Sundar Pichai informed staff about a hiring slowdown. Meta’s chief product officer warned employees of “serious times” and has issued a hiring freeze for certain roles. Uber CEO Dara Khosrowshahi vowed to be “hardcore about costs” in a memo. And Bloomberg reported in April that Apple slowed Genius hiring at some of its retail stores.
Many companies have also been affected by layoffs. Just today, Vimeo CEO Anjali Sud announced that the company would be laying off 6 percent of its staff even though it had already slowed down hiring. Tesla, Substack, Netflix, and Twitter have had to do layoffs recently, too.
Apple has updated its 13-inch 2020 MacBook Pro with its new M2 processor. It’s an improvement over the older M1 chip, especially in single-core performance. But the M2 will also power Apple’s cheaper MacBook Air, which will have a brand-new design and a host of other benefits. Seeking Alpha
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Business was so brisk during the Christmas period that Nintendo actually doubled its total Switch numbers during the three-month period, the Verge reported. Not only are sales up a whopping 261% from this time a year ago, the Nintendo Switch has also officially outsolde the Wii U.
3DS continues to show legs as well with 3 million being sold in the quarter to bring life time sales to an nearly under the radar whopping 71.99 million. For the Nintendo Switch software, Super Mario Odyssey saw global sales reaching 9.07 million units.
NINTENDOCould another surprise Nintendo Switch games project be announced in 2018?
Super Mario Odyssey is also now on track to become the best selling 3D Mario game of all-time.
Minecraft's Xbox characters are finally coming to the Switch and Wii U versions of the game.
The Nintendo Switch, a hybrid between a home console and a handheld machine, has transformed the company's fortunes, proving to be its first big hit since the Wii was launched in 2006. This means that the Switch has, in under ten months, exceeded the Wii U's lifetime sales by over a million.
In just the fourth quarter of 2017, Nintendo sold 7.23 million Switch consoles. Wii U port, Mario Kart 8 Deluxe takes second place at 7.33 million units so far and The Legend of Zelda: Breath of the Wild is actually in third with its 6.7 million sales. It now expects operating profit for the year ending March 31 to come in at 160 billion yen from a previous forecast of 120 billion yen. Nintendo has increased its sales forecast by 1 million.
In short, the Nintendo at the start of 2018 looks nothing like the Nintendo that started off 2017.
As mentioned above, it's hard to say whether this could be a new project being put together by Nintendo, or something already part of an existing development. Nintendo state that's eight million sellers if you include an undisclosed third party title.
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Bank of America to Present at the Goldman Sachs Conference
CHARLOTTE, N.C., Dec. 1 /PRNewswire/ -- Kenneth D. Lewis, Bank of America president and chief executive officer, is scheduled to deliver a presentation at the Goldman Sachs Annual Bank CEO Conference in New York City on December 7, 2004 at 10 a.m. He will discuss the company's growth strategy.
A live webcast of the presentation, in addition to the accompanying slides, will be available at http://www.bankofamerica.com/investor .
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving 33 million consumer relationships with more than 5,800 retail banking offices, more than 16,500 ATMs and award-winning online banking with more than 11 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 150 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 85 percent of the Global Fortune 500. Bank of America Corporation stock (ticker: BAC) is listed on the New York Stock Exchange.
SOURCE Bank of America
CONTACT: Eloise Hale of Bank of America, +1-704-387-0013
Web site: http://www.bankofamerica.com


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In statements, Swanepoel claimed:
Featured image from Luno.
Singapore-based bitcoin startup BitX has expanded to Europe with offices in London, under the new banner name of Luno.
Founded in 2... Read More
Further, the bitcoin executive also sees regulation to occur in a further 2-3 years in China, as opposed to any impending moves by authorities to do so.
In an emailed statement to CCN, Chinese exch... Read More
The Murgios allegedly bribed Trevon Gross, a pastor serving as chairman of Helping Other People Excel Federal Credit Union in Jackson, N.J., which catered to low-income residents.
The defendants cl... Read More
Tech companies are particularly affected. Google was forced out, Facebook is banned, Twitter too, with Quartz stating “China is blacklisting Apple, Cisco, and other US tech companies.”
Combined wit... Read More
Gibraltar Will Take Market-Driven Approach to ICO Rules
Gibraltar may be moving to regulate initial coin offerings (ICOs), but officials say it will be up to the market to determine what a "good" token sale looks like.
The U.K. overseas territory announ
Venezuela Claims $735 Million Raised in First Cryptocurrency Sale
Venezuelan president Nicolas Maduro is claiming that the country has raised $735 million in the first day of a sale for its controversial "petro" cryptocurrency.
Announced late Tuesday night, Madur
500 Startups, Huobi Labs to Incubate Blockchain Projects
500 Startups, the Silicon Valley startup accelerator, announced today that it is partnering with cryptocurrency exchange Huobi's incubator wing, Huobi Labs.
The two companies will support startups
Tesla's Cloud Hit By Crypto Mining Malware Attack
Electric vehicle maker Tesla has reportedly fallen victim to a cryptocurrency mining malware attack.
On Tuesday, cybersecurity software firm RedLock reported that hackers had exploited an insecure


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China's foreign trade maintained upward momentum in the first two months of 2021, with exports posting strong performance, official data showed on March 7.
The country's total imports and exports of goods expanded 32.2 percent year on year to 5.44 trillion yuan ($ 838.16 billion) in the January-February period, according to the General Administration of Customs (GAC).
The growth rate is in a sharp contrast with a virus-induced slump of 9.7 percent during the same period a year earlier.
The substantial increase in foreign trade in the first two months was partly due to a low base last year, said GAC spokesperson Li Kuiwen. "Yet even compared with the same period in 2018 and 2019, China's foreign trade in the January-February period this year logged growth of about 20 percent."
Notably, export growth soared to 50.1 percent while imports rose 14.5 percent in yuan terms.
The fact that people chose to stay put over the Spring Festival holiday this year contributed to China's export boom, said Tu Xinquan, a professor at the University of International Business and Economics.
GAC surveys showed foreign trade companies in export-oriented provinces of Guangdong and Zhejiang managed to continue manufacturing activities during the week-long holiday as many workers followed the government's guidance to stay put to contain the spread of the virus, leading to an earlier-than-usual resumption of manufacturing sector.
China's strong foreign trade data also reflected booming overseas demand for Chinese products, said Tu.
The country saw double-digit growth in foreign trade volumes with major trading partners in the January-February period. The Association of Southeast Asian Nations remained China's largest trading partner during the period, with the combined trade volume rising 32.9 percent year on year.
Other major trading partners such as the European Union, the United States and Japan saw trade volumes with China surge 39.8 percent, 69.6 percent and 27.4 percent, respectively.
China's foreign trade with countries along the Belt and Road amounted to 1.62 trillion yuan in the first two months, up 23.9 percent year on year.
The robust foreign trade data was in line with the Chinese economy's overall growth momentum. Official data showed the purchasing managers' index for China's manufacturing sector, a gauge measuring the vitality of manufacturing activities, remained in expansion zone for 12 consecutive months.
Companies showed increasing vitality and resilience. Imports and exports by private businesses stood at 2.57 trillion yuan during the same period, rising 49.5 percent year on year and accounting for 47.2 percent of the country's total, customs data showed.
Some enterprises tended to be bullish about the outlook of foreign trade in the next few months, as they have stocked up on goods in advance, leading to increases in imports of integrated circuit, iron ore and crude oil, the GAC surveys showed.
Yet, maintaining steady growth of foreign trade will still be a tough task as instabilities and uncertainties in the global market remained and the COVID-19 pandemic continued to ravage the world, the GAC cautioned.
For instance, foreign trade companies in the short term need to tide over difficulties such as the price hikes of raw materials and shipping as well as the shortage of containers.
Efforts need to be made to push forward high-level opening-up, improve business environment for imports and exports, and facilitate new business models such as cross-border e-commerce, the GAC said.


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The announcement by ShopRite which opened its first store in Lagos in December 2005, is coming months after another South African brand, Mr Price, exited the market.
International supermarkets (excluding Nigeria) contributed 11.6% to group sales and reported 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and saw 8.7% rise for the year.
The company said it has been approached by potential investors willing to take over its Nigerian operations. It said it is considering an outright sale or parting with a majority stake in its Nigerian subsidiary.
“As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation,” ShopRite said in a statement on Monday.
In April the supermarket announced it lost 8.1% of its sales in constant currency terms at the end of the second half (H2) of 2019 due to the September xenophobic attacks.
In September, Shoprite stores in Nigeria were vandalised and looted following an alleged xenophobic attack in South Africa, targeting Nigerians.
Owing to fears of further attacks several Shoprite stores across Lagos were sealed and guarded by police.
In the report released in April, the parent company stated that the impact of the store closures and drop in customer count resulted in a difficult half for the company.
ShopRite said the subsequent reduction in customer count during and after the crisis implies that some customers of the supermarkets in Nigeria boycotted the brand.
The difficult half development is not limited to Nigeria alone, as activities in some African nations also created holes in the revenue of Shoprite Holdings, especially the supermarkets out of the shores of South Africa (Non-RSA).
Also, the challenging trading conditions, store closures, load shedding, and currency devaluations in these counties resulted in the company’s furniture division, which includes its Non-RSA business.
Due to this, Shoprite’s sale of merchandise dropped by 2.7%, while credit participation increased to 13.7% (2018: 12.5%) of the business’ R3.3 billion sales for the interim period.
“Their positioning has been confusing from the start,” Kazeem Shittu, a brand and marketing executive told The Guardian on Monday.
“They positioned as an upmarket brand that wanted to appeal to the bottom of the pyramid. They came in and the first location was the elitist part of town which didn’t send the right signal to the mass consumers. The segment of the market they also wanted to attract was not sold on their offerings as the supermarket never stocked the products they wanted. Value proposition and positioning were not clear from the outset.
The average Nigerian saw Shoprite as a place with too much barrier and for meant for a certain class. They don’t have upmarket brands you’d find in Hartley’s, or even Ebeano sometimes and they’re located in areas that were out of reach to the lower class till recently.”
However, ShopRite is not the only South African country leaving Nigeria. In June, Mr. Price Group also stated plans to close its Nigerian business to focus on its home market business in South Africa.
The popular affordable clothing, sport, and home wear brand has closed four out of its five Nigerian stores and expects to close the last one in the coming months.
Nigeria is the third country where the company has exited, as it had left Australia and Poland in 2019.
The Durban-based company cited challenges like supply-chain disruptions and challenges in getting funds out of the country as reasons it has struggled to operate in Nigeria.
KanyiDaily had published videos last year showing some Nigerians who looted various Lagos Shoprite Mall, in retaliation to xenophobic attacks on Nigerians living in South Africa.