FRANKFURT, Jan 16 (Reuters) – German retailer Metro
is to scrap its consumer electronics venture in China,
once trumpeted as an engine of future growth, after meeting
unexpectedly strong competition.
The decision is the latest setback for an international
retailer in the world’s most populous country, where groups like
Best Buy, Kingfisher and Home Depot have
struggled after underestimating local and online rivals.
METZINGEN, Germany (Reuters) – German fashion house Hugo Boss (BOSSn.DE: Quote, Profile, Research) is feeling confident for 2013, even in crisis-hit Europe, thanks to some tricks it has up its well-tailored sleeve to entice customers and take more control over how its suits are sold.
Although the group foresees a slow start to 2013, it is optimistic for the rest of the year, Chief Financial Officer Mark Langer told Reuters in an interview.
METZINGEN, Germany (Reuters) – German fashion house Hugo Boss is confident it will outperform the luxury market in 2013 thanks to a robust U.S. business and an expected uppick in China later in the year, its finance chief told Reuters.
“What we expect is an improvement over the course of the year,” Mark Langer told Reuters in an interview at the group’s headquarters in the small German town of Metzingen near Stuttgart. “I’m more cautious for the first quarter.”
FRANKFURT, Dec 20 (Reuters) – With record low interest rates
providing little incentive to open a bank account, canny Germans
are choosing a more glamorous place to put their money this
Christmas – jewellery.
Demand for diamond rings and gold watches is also being
fuelled by an uncertain economic outlook, which is making
shoppers in Europe’s largest economy seek out gifts more likely
to retain – and possibly increase – their value.
MANNHEIM, Germany (Reuters) – Morale among German analysts and investors improved sharply in December on the back of encouraging U.S. economic data, fanning hopes that Europe’s largest economy will avoid recession this winter.
The unexpectedly upbeat survey from the ZEW think tank on Tuesday followed data that has shown exports – the traditional engine of Germany’s economy – losing momentum, industrial output tumbling and unemployment nudging higher.
FRANKFURT, Dec 7 (Reuters) – German billionaire Berthold
Albrecht, who became one of Europe’s richest men after he and
his brother Theo Jr inherited the Aldi discount supermarket
chain, has died aged 58, his family announced on Friday.
The brothers’ fortune, held by a family foundation, was
estimated at $17.8 billion by Forbes, placing them 32nd in its
list of billionaires.
FRANKFURT, Nov 30 (Reuters) – German retailer Metro AG
is selling its Real hypermarkets in eastern Europe to
French rival Auchan in a 1.1 billion euro ($1.4 billion) deal to
cut debt and focus on expanding its cash and carry and consumer
Auchan, controlled by the Mulliez family, one of France’s
wealthiest, said the deal would double its store presence in
central and eastern Europe, a key area for development.
FRANKFURT (Reuters) – In the gleaming open spaces of a duty free store at Frankfurt airport, 32 year old Benny from China is ticking off items on his shopping list with the aid of the airport’s new Mandarin-speaking personal shopper, Wasim Hussein.
“It’s a great service,” Benny, a student who was in Germany visiting friends, said in Chinese, displaying a shopping list on his iPhone that includes Estee Lauder face creams at 50 euros apiece as presents for his wife and friends.
LONDON (Reuters) – German consumer goods group Henkel (HNKG_p.DE: Quote, Profile, Research) is ramping up investment in developing countries and hunting for acquisitions in a bid to lift sales over a quarter by 2016 and counter weakening markets in Europe.
The maker of Persil washing powder and Schwarzkopf hair products said on Friday it would invest 2 billion euros over the next four years, up 40 percent on 2008-12, and set up seven new research and development centres in countries like Brazil, South Africa and South Korea to develop products for local consumers.
LONDON, Nov 16 (Reuters) – German consumer goods group
Henkel is ramping up investment in emerging markets
in a bid to lift sales over a quarter by 2016 and counter
deteriorating markets in Europe.
The German maker of Persil washing powder and Schwarzkopf
hair products said on Friday it was aiming for 20 billion euros
($25.6 billion) of sales by 2016, up from 15.6 billion in 2011.