JD.com unveils a large language model to drive innovations across industries

Partnership
DTLR collaborates with New Balance
DTLR collaborates with New Balance for the vibrant “Wild Style 2.0” sneakers, featuring bold colors and black suede panels. The release initially includes grade school, pre-school, and toddler sizes, with adult sizes to follow. Specific drop details and pricing are yet to be announced. Read More>>

Centre Setup and Expansion
Second Amazon facility confirmed for Hollister
A new 1-million-square-foot Amazon fulfillment center is confirmed to be under construction next to the Hollister Airport, known as Project Almond. The facility will be the first building on a 1,500-acre lot zoned for commercial-industrial use. The center will hold and process extra-large items before they are sold and distributed. Read More>>

Mergers and Acquisitions
RS Group completes acquisition of Distrelec CIE
RS Group plc has successfully acquired Distrelec B.V. for USD 410.6 million, further expanding its presence in continental Europe, particularly in Germany, Switzerland, and Sweden. Distrelec is a complementary business to RS, with a similar product mix, customer-centric focus, and strong digital presence. Read More>>
Mars Inc. acquires nutritious meal company Kevins Natural Foods
The deal aims to enhance Mars Food & Nutrition’s product offerings and expand Kevin’s brand globally. The transaction is expected to close in Q3 2023. Read More>>

Executive Movements
Five Below taps Kristy Chipman as CFO, Treasurer
Five Below Inc. named Kristy Chipman as CFO and Treasurer of an apparel and accessories brand for the tween and older consumer segment. She will oversee finance, SEC reporting, financial planning, investor relations, and more. Chipman succeeds Ken Bull, who is now COO of Five Below. Read More>>
Academy Sports appoints EVP and CFO
Academy Sports + Outdoors promoted Carl Ford to EVP and CFO, overseeing finance, accounting, tax, treasury, internal audit, and more. Ford previously served as SVP of finance at Academy and held leadership roles at Belk, Inc. and Deloitte & Touche. Read More>>

Layoff
Haleon to lay off employees in a cost-cutting measure
Haleon plans to lay off hundreds of employees globally and in the UK as a cost-cutting measure, aiming for USD 393 million in savings over three years. The layoffs will begin in September as part of their strategic planning for operational efficiency after separating from GSK last year. Read More>>

Product Launch
JD.com unveils a large language model to drive innovations across industries
JD.com has introduced its own large language model called ChatRhino, offering targeted solutions across various sectors. The platform enables the development of industry-specific applications and provides tools for model acceleration and optimization, reducing inference costs. Read More>>

Financial and Market Activity
DMart Q1FY24 Results
Avenue Supermarts, which operates DMart, reported a Q1FY24 net profit of USD 80 Million, up 2% YoY. The consolidated revenue rose 18.2% to USD 1.4 Billion. The company plans to offer up to 1.5 million employee stock options under ESOP 2023, subject to shareholder approval. Read More>>

Elevated Retail Experience

• Lowe’s prioritizes customer experience with customized appliances, high-end products, airport hotel stays, and quality bunk beds, showing dedication to customer preferences and community impact.   
• By offering warm and festive rooms during the holiday season, Lowe’s creates an unforgettable stay for stranded travelers. It enhances customer comfort and satisfaction beyond traditional retail settings, providing a welcoming environment during a potentially stressful time.      
• Lowe’s embraces digital innovation to enhance the customer experience. The company invests in technology-driven solutions like mobile apps, online ordering systems, and virtual tools to make shopping more accessible, and more convenient.         
• The company prioritizes eco-friendly products and initiatives that promote energy efficiency, water conservation, and waste reduction to its customers.

Customized Product Development

• Lowe’s focuses on offering more customized options for kitchen appliance products to fulfill a customer’s needs for a particular room. The company strives to create exceptional experiences, prioritize customer preferences, and foster sustainability in its offerings, highlighting its dedication to customer satisfaction.
• Service providers with rich expertise in Customized Product Development would be able to serve Lowe’s Companies, Inc. with better solutions.

Key Funding Alert

Ikea rolls out a big investment plan in Spain Andalucia worth USD 130 million euros
A logistics center in Antequera, set to be operational by the end of 2024, will cater to the entire Andalucian market, delivering approximately 400,000 orders annually to customers’ homes. Nationally, Ikea plans to invest over USD 337 million in Spain by 2025, doubling their initial investment forecast. Read More>>

Startup Spotlight

Company – Camp
Total Funding – USD 67.38 Mn
About: Camp is a retail concept for kids and their parents, offering a rotating selection of toys and other goods alongside experiences like cooking and craft classes. It combines merchandise, play, and media throughout its stores to create an enriching and fun experience for kids and grown-ups. CAMP offers an entirely new experience with each visit rotating its theme every 8 -12 weeks. Read More>>

Here’s what’s new on our Sales Intelligence Platform
Export Account Profile in PPT format

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• Gain competitive intelligence by understanding the trends in an Account’s Customer engagements with the Enhanced Customers section in the Account profile
• Introducing Tags Filter in Universe: Easily filter companies from the Fortune 500 and Global 2000 lists for targeted research
• Introducing Business Initiatives information in Buyers Profile to enable you to effortlessly identify an executive’s current business priorities and streamline your communication accordingly