Pinterest acquires an AI-powered shopping service as it pivots from image sharing to social commerce
Key Signals in Retail and Consumer Goods
Centre Setup and Expansion Montreal’s newest Costco location all set to open this week Open to all Costco members, the new Business Centre is set to open on Wednesday, June 8, at the former Costco Anjou location — 7373 Rue Bombardier. The new store will enable thousands of local businesses to benefit from one-stop shopping, either in person or online. Read More>> Massive Loblaw distribution facility coming to East Gwillimbury In a news release, the company said the new facility would add capacity and create new retailers’ capabilities. The community will also benefit from USD 7 Mn in development charges that will be used to build roads and sewers, community centers, parks, playgrounds, trails, and other community amenities. Read More>> Coca-Cola Beverages Africa opens new Ethiopia bottling plant With the announcement of its new USD 100-million bottling plant at Sebeta, Coca-Cola Beverages Africa (CCBA) aims to unlock export opportunities, increase local production, and ease foreign exchange constraints. Read More>>Deals PDS UK subsidiary signs license agreement for Forever 21 Through this latest relationship with Forever 21, PDS plans to deliver quality products and great style to consumers in the UK and Europe while opening doors to bring the best-in-class partners into their supply chain. Read More>> Audeara foresees a budding relationship with Specsavers after signing a distribution deal As part of the new symbiotic partnership, Brisbane-based Audeara will gain access to Australia’s fastest-growing audiology network. This gives Audeara the opportunity for further growth as Specsavers continues to roll out audiology services to its optometry store footprint. Read More>>Partnerships Filipino artist collaborates with Adidas for NBA star Donovan Mitchell’s latest signature shoe The basketball shoes give the nod to both Agoncillo’s and Mitchell’s roots. It features a halftone pattern influenced by Agoncillo’s love for superhero comic books and Mitchell’s previous D.O.N. issues. The shoe sports a map of Mitchell’s hometown in Elmsford, New York, is on the right shoes’ outsoles and a map of Manila is on the left. Read More>> HelloFresh teams up with Minions to create a real-life Cheese Blaster These will be available exclusively through the HelloFresh Market. Each Pizza Kit allows customers to develop four personal pizzas. Additionally, with each purchase of a pizza kit, customers will receive two Fandango Movie Tickets to see Minions: The Rise of Gru. Read More>>Mergers and Acquisitions Mohawk Industries announces acquisition of Vitromex ceramic tile business The company announced that it has agreed to purchase the Vitromex ceramic tile business from Grupo Industrial Saltillo for approximately USD 293 Mn in cash. The transaction is expected to close in the second half of 2022 and is subject to the approval of GIS’s shareholders and customary government approvals and closing conditions. Read More>> Pinterest to acquire high-tech fashion-shopping platform TheYes Pinterest believes that THE YES’s leadership, innovative technology, and talented team, combining shopping expertise with fashion industry credibility, will help accelerate Pinterest’s vision of the home of taste-driven shopping. Read More>>Executive Movement Denmark’s Dagrofa appoints new Chief Financial Officer Danish retailer Dagrofa, which operates the SPAR, Meny, and Kiwi brands in the country, has appointed Thomas Thellersen Børne to the position. At the retailer, he will be in charge of finance, group law and compliance, property development, and IT. Read More>> Tupperware names Mariela Matute as Chief Financial Officer Matute takes over as CFO, replacing Sandra Harris who has been dually serving as both CFO and chief operating officer. She will be part of Tupperware’s executive team, helping to develop omnichannel business strategies alongside the company’s commercial leaders. Read More>>
Latest Industry Insights from Draup Braindesk
Mowi focuses on improving salmon farming and developing an advanced underwater sensing and software analysis platform that gathers intelligence on real-time growth.
The company intends to develop products and services based on genomic selection for the European aquaculture breeding industry, focusing on cost-efficient trait recording, genotyping, and selection for traits.
Throughout the collaboration, the company aims to provide high-quality protein for both food and feed, which optimize the production of three alternative proteins and verify their use in various feed and food applications.
Hordaland, Norway, serves as the critical location for Mowi, focusing on Reporting & Analytics and Product Engineering Services related engagements.
Key Funding Alert
PepsiCo to increase investment into its largest food plant in India
As part of the expansion, PepsiCo India will raise the capacity of the foods plant by setting up a new manufacturing line to produce the nacho chip brand Doritos. The state-of-the-art facility is fuelling the economic ecosystem and creating job opportunities in UP. Read More>>
Startup Spotlight
Company – Mashgin Total Funding – USD 73.69 Mn About: Mashgin A.I.-based self-checkout system focuses on developing the future of checkout experiences and aims to reduce the friction between customer desires and their ability to be on their way. Read More>>
Latest Reports Published in Draup
The Kroger Company – Account Intelligence Report: Kroger focuses on the implementation of grocery delivery via autonomous drones by expanding the retailer’s seamless ecosystem and delivering the need of customers. Read More>>
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