Rich Products Corporation enhances its supply chain by implementing a cloud-based platform with Al and ML capabilities

Key Signals in Retail and Consumer Goods

Centre Setup and Expansion
Aldi opening new Maryland Store
The stores are designed to make grocery shopping smarter, faster, and easier, and it has been voted the price leader for six years running. Read More>>
New Balance opens new Retail concept in Boston
The company has now opened its new location at 124 Newbury Street in Boston, Mass. The fresh retail concept is built to put people, not products, at the center of the consumer experience. Designed around central seating gestures, the store aims to encourage customers to convene, draw inspiration from each other, and find their authentic style. Read More>>
Vicor Corporation announces Global Distribution Agreement with Avnet
The agreement expands access to Vicor’s power modules through Avnets world-class design and supply chain, enabling global customers to achieve world-changing innovation with higher system performance and greater scalability. Read More>>
Mass Hiring
Meijer hiring for New Store at Eastwood Mall Complex
The store is slated to open later this year. Meijer is seeking to fill 350 part- and full-time positions at the store, as well as its new supercenter in Wooster, which is also scheduled to open later this year. The retailer is hiring for all positions, including cashiers, clerks, cake decorators, and meat cutters. Read More>>
Mercadona creates five hundred jobs
The company announced that it would invest USD 238 million in the construction of the Almeirim logistics center to support the expansion plan in the country. Scheduled to open in 2024, the center will create 500 new jobs by the end of 2024, having already started recruiting. Read More>>
Danone North America adding jobs in Northwest Jacksonville
The company announced it would invest up to USD 65 million over two years to expand its plant in northwest Jacksonville, a move that will add 40 employees to its 110-person workforce. The Jacksonville investment will add a new bottle production line and support the company’s goal of reducing overall water consumption and decreasing carbon emissions. Read More>>
Merger and Acquisition
Dicks Sporting Goods agrees to acquire Moosejaw from Walmart
They believe there’s potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers. Read More>>
Nike, Adidas shoe supplier Pou Chen to slash 6,000 jobs in Vietnam due to weak demand
It will cut 3,000 jobs this month and not extend labor contracts for another 3,000 workers later this year. It planned to cut no more than 3,000 staff in the latest round of layoffs amid uncertainty over the macroeconomic outlook, and the impact on operations would be limited. Read More>>
The RealReal to cut 7 percent of the workforce to slash costs across the business
The move will impact around 230 employees at the company. The RealReal will close two of its flagship stores in San Francisco and Chicago, two neighborhood stores in Atlanta and Austin, and two luxury consignment offices in Miami and Washington, as well as any co-located logistics hubs. Read More>>
Executive Movements
Thierry Koskas is appointed Citron Brand CEO and Stellantis Chief Sales & Marketing Officer
Thierry’s dual responsibility is part of a logic of cross-functionality, as is already the case for other EVPs within the Stellantis leadership team. Read More>>
Asda names new Chief Customer Officer
Hills will join later this year from rival Aldi, where he is currently Group Director, Marketing & Communications. Asdas acting Chief Customer Officer, Sam Dickson, will continue in this role until Hills arrives. Read More>>

Latest Industry Insights from Draup Braindesk


Funding Alert

Lamb Weston invests USD 250 Mn in Argentina’s potato industry – with an eye on the international processing market
The company is making significant strides in constructing a big potato processing plant with an investment of USD 250 million in Argentina. The 19-hectare Mar del Plata Industrial Park plant’s construction began a year ago and is on schedule. The plant will capitalize on Argentina’s competitive potato production, where Mar del Plata produces 50% of the nation’s potatoes. The plant will produce 3 million potato chips per day worldwide. Read More>>

Startup Spotlight

Company – Yebo Fresh
Total Funding – USD 5.53 Mn
About: Yebofresh is a new online shopping service delivering popular groceries straight into areas that are generally unserved by most formal retailers. The unique business model and partnerships with manufacturers allow them to deliver top-quality products and A-brands at extremely competitive prices. Yebofresh serves Imizamo Yethu, Langa, Khayelitsha, Mfuleni, and Gugulethu and, following recent seed funding, is rapidly expanding across the greater Cape Town area. Read More>>

Latest Reports Published in Draup

Mecca Account Intelligence Report
Mecca is keen on providing online shopping access for beauty products through AWS and machine learning platforms that accelerate the in-store and dynamic shopping experience. Read More>>
Rich Products Corporation Account Intelligence Report
Rich Products Corporation enhances its supply chain by implementing a cloud-based platform with Al and ML capabilities. Read More>>
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