Kmart and Target are part of a group of 11 leading retail companies from four countries forming a Web-based retail exchange with combined sales of $300 billion.
Published:
11 April 2000 y., Tuesday
The venture also includes U.S.-based Albertson's, Safeway and CVS; British retailers Marks & Spencer, Tesco and Kingfisher; French groups Casino Guichard-Perrachon and Auchan; and Dutch firm RoyalAhold. The new Web-based, business-to- business exchange is expected to begin operating by midyear. It is designed to facilitate and simplify trading between retailers and more than 100,000 suppliers, partners and distributors. Combined, the group operates more than 30,000 stores. French-Belgian retailer Cora is expected to join soon. The exchange aims to provide publicly available data together with private price and promotion information between multiple buyers and sellers, as well as act as the means for auctioning products. Initially, the founding members will each hold 5 percent of the exchange, allowing others to join later. In the first few years, investment in the partnership is expected to amount to about $100 million, and members say savings generated from the participating retail companies are expected to rapidly exceed costs.
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The mission held constructive discussions with Prime Minister Emmanuel Nadingar, Finance Minister Gata Ngoulou, Infrastructure Minister Adoum Younousmi, and other senior officials.
more »
The EBRD is helping to improve the quality of power supply and stimulate renewable sources of energy in the Caucasus with an €80 million sovereign loan to Georgia for the construction of a new high voltage transmission line - the Black Sea High Voltage line, which will interconnect Georgia and Turkey.
more »
The EBRD is helping to improve the infrastructure of the Georgian capital, Tbilisi, with a €100 million loan for the construction of a new railway route bypassing the city.
more »
One of the men considered to be the founding fathers of the euro currency met MEPs on the Foreign Affairs Committee Tuesday (16 March) to talk about transatlantic relations.
more »
European Trade Commissioner Karel De Gucht today opened a conference focused on the European Union's trade policy towards developing countries.
more »
At the beginning of the 2000s, state ownership in financial intermediation in Mexico accounted for about 20 percent of the total credit of the banking system, provided through development financial institutions and funds.
more »
Halving the number of business failures by offering individual support, doubling the number of young people who want to start their own business or raising by 500% the number of enterprising new cooperatives are just some of the projects nominated for the European Enterprise Awards 2010.
more »
The European Commission has published the fourth call for proposals for the creation and upgrade of freight transport services under the second Marco Polo programme.
more »
The European Central Bank (ECB) today announced a programme of technical cooperation with the Central Bank of Bosnia and Herzegovina, in collaboration with a number of euro area national central banks (NCBs).
more »
The EU disbursed today €1 billion to Romania, the second instalment of a €5 billion loan, which was agreed in May 2009 as part of a multilateral financial assistance package.
more »