Retail

Bloomberg NWP Retail, a shopping mall developer backed by Warburg Pincus LLC, will spend $123.5 million buying five Lippo shopping malls in Indonesia. Two shopping malls will be acquired from the Indonesian units of Singapore-listed Lippo Malls Indonesia Retail Trust for $92 million while another three will be bought for $31.5 million from entities owned by PT Multipolar. The acquisitions ...

Dubai / Emirates Business Ted Baker announces the reopening of his prestigious Dubai Mall store. After relocating just around the corner, Ted’s flagship location has undergone a tailor-made makeover. In the heart of Downtown Dubai, known for threading together internationally recognised fashion and fine dining, this is his most grandiose setting of all for the newly improved Ted Baker store. ...

Bloomberg EssilorLuxottica, the newly merged Italian-French eyewear conglomerate, said it was the target of a 190 million euro ($213 million) fraud at a factory in Thailand as a power struggle roils its headquarters. The world’s leading lens maker is working to recover the lost funds, and employees associated with the incident, which occurred at an Essilor plant, have been fired, ...

Bloomberg The chief financial officer of Domino’s Pizza Group Plc died in a snorkeling accident, leaving a growing management void at the franchise holder for the fast-food brand in the UK and Ireland. David Bauernfeind, 51, died while on vacation with his family in Mauritius, according to a spokesman. The company’s chairman and chief executive officer had previously announced plans ...

Bloomberg Barneys New York Inc. has stopped offering clearance merchandise on its websites, which now redirect to Saks Fifth Avenue’s sites. The retailer suspended closeout sales on Barneys.com and Barneyswarehouse.com sites and is transferring the remaining goods to Barneys stores slated to close, according to a representative for B. Riley Financial Inc., the firm handling the liquidation sales. Clearance at ...

Bloomberg The Thailand and Malaysian operations of Britain’s largest supermarket chain Tesco Plc. are on the shopping lists of Thai tycoons. Thai billionaire Dhanin Chearavanont’s Charoen Pokphand Group and Central Group, controlled by Chirathivat family, are among companies that are weighing bids for the Southeast Asian business that could fetch more than $7 billion, according to people with knowledge of ...

Bloomberg After quietly supplying coffee addicts their daily fix for decades, Vietnam is preparing to take on Nestle SA and its Asian rivals to reach them faster. Instead of selling raw robusta beans to foreign companies for turning into instant coffee, Vietnam’s biggest supplier is preparing to offer its own soluble powder in early 2020. The shift is aimed at ...

Bloomberg Creditors of Toms Shoes LLC, the popular footwear seller that’s been struggling to weather declining sales amid a pile of looming debt, have agreed to take over the company in exchange for restructuring its debt. The group of creditors, led by Jefferies Financial Group Inc., Nexus Capital Management LP and Brookfield Asset Management Inc. will assume the ownership from ...

Bloomberg The South Korean business dynasty that gained notoriety with the “nut-rage incident” is generating turbulence again. Heather Cho, 45, the eldest daughter of the founding family’s late patriarch, voiced her discontent over how her brother has been running the Hanjin conglomerate, whose units include flag carrier Korean Air Lines Co. Walter Cho, the 43-year-old chairman of Hanjin Group and ...

Bloomberg Even as global consumer brands grow more dependent on Asia for sales of everything from fancy handbags to baby formula, European retailers keep retreating from the world’s fastest-growing markets. The UK’s Tesco Plc, which said this month that it’s weighing a sale of its Thailand and Malaysia operations, is just the latest. Earlier this year, Germany’s Metro AG and ...