International Business

Gap's local franchisee in Australia is ending its four-year relationship with the specialty retailer.

The financially struggling OrotonGroup is expected to close its six Gap stores by the end of January as it looks to focus on its core Oroton handbag business and limit related future losses.  In June, Oroton, which operates 70 stores and is best known for its luxury handbags, announced it was exploring options, which could include a sale of its business.

American Apparel’s website has been hinting about a summer relaunch for some time — now its parent company is making good its promise.   Gildan Activewear, which purchased the specialty retailer at a bankruptcy auction earlier this year, is preparing to relaunch the brand’s e-commerce website, according to Bloomberg. However, this is only the first project on its list of retail plans.  

Sugarfina is looking to expand its luxury candy offerings, online and in stores.    The company announced it has closed a $35 million growth equity financing from Great Hill Partners, bringing Sugarfina's total funding to over $50 million. The new funding will be used to continue scaling the brand across retail, digital, wholesale, and corporate gifting, and to expand internationally to the Middle East, Europe, and Asia. Sugarfina will begin its overseas expansion in early 2018.  

Another retail sector continues to consolidate.   The Aldo Group Inc. said it will acquire the footwear and accessories businesses of the Camuto Group. Both companies are family owned. The news comes just over a week after Michael Kors announced it was buying Jimmy Choo.   

Costco Wholesale Corp. turned in a winning performance in July, fueled by strong traffic trends.   The company reported that its net sales in July rose 8.8% to $9.41 billion, compared to $8.65 billion during the similar period last year. Total company same-store sales rose 6.2%, with a 6.0% increase in the U.S. Excluding the impacts from changes in gasoline prices and foreign exchange, total same-store sales rose 5.3%, and 5.5% in the U.S.   

Amazon’s Australian online store is one step closer to launching.   In addition to announcing the site of its first Australian warehouse, the online giant also named a German executive as its country manager. Both moves indicate that Amazon is preparing to launch its online store in the world's 12th-biggest economy, according to Reuters.  

An Asian brand whose characters were originally created for use as emoticons on a mobile messenger app has opened its first store in North America.     Line Friends, whose characters include whimsical-looking bears, ducks, bunnies and more, has opened a 4,628-sq.-ft. flagship in Manhattan's Times Square as part of the company's global expansion efforts.  It currently operates 84 locations in 11 countries around the globe.   

A new service is helping retailers adhere to newly introduced interoperability standards related to QR code-based payments.   In a move to standardize emerging cashless payments, EMVCo, the global technical body that manages the EMV Specifications, released new global QR Code Payment standards — a move that will allow retailers to process mobile payments made through the two-dimensional machine-readable barcodes. Visa and the other EMVCo members worked to develop these new globally interoperable EMV specifications.