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Holt Renfrew launches Canadian discount chain
Toronto -- Canadian luxury fashion retailer Holt Renfrew & Co. said Monday it will launch a new discount chain called hr2, with a first store in March in Quebec, followed by planned locations across the country by 2015.
It said the stores will range in size from 25,000 sq. ft. to 35,000 sq. ft., smaller than Holt Renfrew’s nine department stores, and targeting women age 25 and up.
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Wal-Mart completes deal with Chinese e-commerce company
Bentonville, Ark. -- Wal-Mart Stores Inc. announced the completion of its increased investment in Yihaodian, a fast-growing Chinese e-commerce company. The chain now holds an approximate 51% stake in the Yihaodian holding company.
"This investment demonstrates we are committed to the development of e-commerce in China and bringing the best possible shopping experience to Chinese customers," said Neil Ashe, president and CEO of Wal-Mart's Global e-commerce division in a statement.