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Otto on the acquisition trail?
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| Otto UK, the parent company of Freemans, Grattan, Montage and Oli.co.uk, confirmed it has begun a strategic review of its home shopping businesses in the UK. The group has hired KPMG to consider a range of options for the Otto group, including "substantial investment in the home shopping sector and/or the high street retail sector". |
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Asda to generate sales of £1 billion online by 2011
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| Asda will launch a 1000-page catalogue in time for Christmas 2008. Britain's second largest supermarket is ramping up its online operations and will put 1 million SKUs online under its Asda Direct service by 2010. By 2011 Asda expects its online grocery and non-food business to be turning over in excess of £1 billion per annum. |
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Amazon takes stake in Lovefilm
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| Online DVD rental service Lovefilm is to acquire Amazon.com’s DVD rental business in the UK and Germany. As part of the deal Amazon will become the largest shareholder in Lovefilm and promote its services on Amazon.co.uk and Amazon.de. |
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Dolls House Emporium enjoys bumper Christmas
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| The Dolls House Emporium has said that the three-month autumn trading period, ending December 31st, saw record numbers of new customers shopping with the dolls’ house and miniatures specialist. Although specific figures were not disclosed, the Christmas period was successful says a company statement with like-for-like sales up 16 percent driven by the multi-channel retailer’s "new-look mail order catalogue, relaunched website and upgraded customer loyalty and incentive programmes". |
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Charles Tyrwhitt considering flotation
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| In a recent article in a national newspaper Nick Wheeler unveiled plans to float the business he founded in 1986 in the autumn of this year. However, having taken into account the market’s recent volatility, Wheeler now says the idea is on the back burner. |
Borders promotes Downer to CEO
Philip Downer is to assume the role of CEO at Borders following the resignation of David Roche. Downer was managing director of the book chain before Roche joined, when he moved to the position of retail director.
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