Starbucks opens 40 new coffee stores in India as KFC doubles down on women employment

INDIA –  Tata Starbucks, a 50:50 joint venture between Tata Consumer Products Ltd and Starbucks Corporation, has continued its bullish expansion in India, venturing into 7 new cities and opening 40 new stores in its wake. This fiscal year has been eventful for Tata Starbucks in terms of expansion plans and reaching customers in newer cities and locations. In FY21, Starbucks opened stores in new cities such as Lucknow, Amritsar, Kochi, Ludhiana, Bhopal, Indore, and now Kanpur. Kanpur becomes the 18th city in India and second city in Uttar Pradesh…

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Starbucks to cut down water usage in processing, achieve carbon-neutral green coffee by 2030

US – American multinational chain of coffee houses and roaster reserves, Startbucks has doubled down on its sustainability goals, committing to achieving carbon neutral green coffee by 2030. The company, mostly known for its coffee houses, also aims to conserve water usage in green coffee processing by 50% during the same period. The company said its new sustainability goals are aimed at protecting the resiliency of its robust supply chain comprised of more than 400,000 farmers in 30 counties and to protect the planet we all share. “By reducing carbon…

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US grocery delivery startup goPuff raises US$1.15bn, doubling valuation to nearly US$9bn

US – goPuff, a rapidly growing grocery delivery startup in the US, has raised US$1.15 billion in new funding, as it looks to become the world’s go-to solution for immediate everyday needs. Investors in the round include D1 Capital Partners, Fidelity Management and Research Company, Baillie Gifford, Eldridge, Reinvent Capital, Luxor Capital and SoftBank Vision Fund 1. The new funding comes on the heels of its US$380 million funding round, which valued the company at US$3.9 billion. According to a statement by the grocery delivery startup, the latest funding round…

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Majid Al Futtaim provides Egyptians with a seamless online experience with launch of new service

EGYPT – Majid Al Futtaim, the shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia, has launched its free “Click and Collect” service across its four shopping malls in Egypt. The newly launched “click and collect” service is aimed to reinvent shopping experiences in the country by offering customers more convenience and choice, further addressing the rise in demand for online services. The service enables customers to shop online and collect their purchases from select stores at any of Majid Al Futtaim’s shopping malls in…

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Carrefour to acquire Walmart’s Grupo Big to strengthen retail presence in Brazil

BRAZIL – French retail giant, Carrefour has agreed to purchase Brazil’s third biggest food retailer Grupo Big from Walmart and investment firm Advent International in an effort to strengthen its presence in the South American country.  The deal which is reported to value the company at 7 billion reais (about US$1.25 billion) will expand the Carrefour’s footprint in regions where it has limited penetration such as the northeast and south of the country. By combining the groups, the retailer claims it will be able to offer a broader range of…

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Jumia cashes in on bullish stock trading aims to raise US$400m to finance expansion drive

AFRICA – The New York Stock Exchange listed Africa-focused eCommerce company, Jumia is seeking to raise US$400 million by floating 9 million American depositary shares (ADS). ADS are stocks offered by non-US companies, available to be purchased by US investors. Secondary sales like this are usually done by public companies to finance debt or facilitate growth. The Ecommerce giant with stock trading at US$42.14 on Monday, aims to raise more cash to fund its expansion drive. Jumia listed the ADSs at US$50 per share, but investors could buy these shares…

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Tuskys appoints its CFO Chadwick Okumu to be company’s interim Chief Executive Officer

KENYA – The struggling retailer, Tuskys Supermarket has appointed its chief financial officer (CFO) Chadwick Okumu as its interim Chief Executive Officer following the departure of Dan Githua last year. Prior to joining Tuskys, Okumu was Chief Financial Officer of Uchumi Supermarket for eight years and has worked in various finance capacities at Reckitt Benchiser and Keroche Breweries. “Mr Chadwick Okumu is the acting Chief Executive at Tuskys. The process of appointing a substantive boss has taken long because getting the right person for the job is not easy,” the…

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Jumia Kenya launches Food Festival campaign to support local restaurants

KENYA – E-commerce platform Jumia has launched a Food Festival Campaign in Kenya to support local restaurants navigate the challenging operating environment brought by the COVID-19 pandemic. During the campaign, consumers will get free and fast delivery from hundreds of restaurants, supermarkets and shops via Jumia Prime, its loyalty program. The food festival campaign, according to Jumia follows the president’s directive to extend the curfew for additional 60-days following the increased rate of 3rd wave of covid-19 in Kenya. “We hope that this campaign will surprise and delight our customers.…

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Weee! raises US$315m in funding to expand geographic expansion of ethnic e-grocer platform

US – Weee!, A US-based ethnic e-grocer, has raised US$315 million in Series D funding even as it aims to accelerate its geographic expansion. The financing round was led by DST Global, which also led the company’s last financing round.  Alongside DST Global, , Series D investors included funds managed by Blackstone, Arena Holdings and Tiger Global. Founded in 2015, Weee! aims to provide underserved communities with convenient and affordable access to specialty products and everyday essentials. The e-grocer’s offering includes fresh produce, meat, seafood, and a wide variety of…

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South African nutritious food maker The Harvest Table recorded 6-fold growth amid COVID-19

SOUTH AFRICA – The Harvest Table, South African maker of pure whole and functional foods-majorly operating an online business, registered six-times growth in its turn-over in 2020 propelled by rise in demand of health and nutritious foods during the COVID-19 pandemic. Also, movement restrictions aimed to curb the spread of the virus made consumers to shift to more safer and convenient channels of accessing supplies which led to the burgeoning of ecommerce and online deliveries. According to the owner and founder of the company Catherine Clark, the business was well…

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