International Business

Walmart has made another big e-commerce investment in China.   On the heels of launching three major e-commerce initiatives in China, Walmart will invest $50 million in New Dada — China’s largest local on-demand logistics and grocery online-to-offline (O2O) e-commerce platform.  

A German brand known for its high-quality headphones had dropped anchor in the United States.      Sennheiser has opened a pop-up, in the SoHo section of downtown Manhattan, that is designed to let visitors try out its products firsthand.      The brand is also set to open a permanent retail space, at the Westfield World Trade Center in Manhattan, in late October. It will serve as a showroom and not sell product (product is sold at the pop-up, however).  

Starbucks is bullish about its new café format, Starbucks Reserve, which will target a more sophisticated audience with premium coffees and food offerings.     The company had previously said it planned to open 500 Reserve locations globally, with the format making its debut next year. But it is looking to open as many as 1,000 locations, Bloomberg reported.

Starbucks is bringing its new immersive store concept to Tokyo.   The coffee giant will open a Reserve Roastery in Tokyo, in 2018. Located in the Nakameguro district, an upscale neighborhood, the Roastery will be designed in collaboration with Kengo Kuma, a world-renowned architect and founder of Kuma Lab at the University of Tokyo.  

Ron Loveless, the first CEO of Sam's Club who grew the retailer for several years before retiring in 1986, has died.   According to the Northwest Arkansas Democrat Gazette, Loveless died Monday at the age of 73 after "a long battle with cancer," according to a memo from Walmart CEO Doug McMillon and Sam's Club CEO Rosalind Brewer sent to Sam's Club employees.  

Walmart is ready to sink its teeth into the world’s largest e-commerce market.   Three months after entering into a strategic alliance with JD.com, China’s second-largest e-commerce website, Walmart is introducing Chinese shoppers to a new digitally-driven shopping experience. For example, Chinese shoppers got their first taste of Sam’s Club when Walmart opened the doors of its first flagship store in China today.  

Starbucks Corp. announced its most ambitious expansion plans to date for China, and also named its first CEO for the country.   Starbucks said it plans to double its store count in China, growing to 5,000 stores by 2021. Overseeing the expansion will be Belinda Wong, who has promoted from president to CEO of Starbucks China, effective immediately.   

Gap to shut all Banana Republic stores in the U.K.   Shoppers in the United Kingdom will soon be able to buy Banana Republic merchandise only via the chain’s website.   Gap Inc. plans to close all eight of its Banana Republic stores in United Kingdom by the end of its fiscal year, Bloomberg reported.    In May, Gap announced that it planned to shut about 75 stores across its Old Navy and Banana Republic brands, with most of the closures overseas.