The turnover of the Russian food retail industry grew by 1.4% in 2019 to reach US$223.9 billion. The sector continues to consolidate, with the share of the top ten fast-moving consumer goods (FMCG) chains in the retail food market increasing to 32.9%, led by X5 Retail Group and M&A transactions. Torgservice, which owns two popular hard discounters (Svetofor and Mayak) increased revenues by 26% and moved up to 9th place. In light of the slim profit margins, most industry observers predict continued consolidation in the retail sector.
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Sainsbury's commits to £1 billion to become Net Zero by 2040
UK retailer Sainsbury’s has issued a pledge that its operations will become Net Zero in line with the goal to limit global warming to 1.5°C, the highest ambition of the Paris Agreement, and a decade ahead of the UK Government’s own target. The project will focus on reducing carbon emissions, food waste, plastic packaging, water usage and increasing recycling, biodiversity and healthy and sustainable eating Sainsbury’s will work collaboratively with suppliers and will ask suppliers for their own carbon reduction commitments.
Departure of Sainsbury’s CEO “not due” to Asda deal collapse
Credit: Peter Nicholls, Reuters, The Times
Sainsbury’s CEO, Mike Coupe, has announced his resignation but will remain in his post until the end of May. His replacement will be current retail and operations director, Simon Roberts. Coupe has denied that his resignation is linked with the collapse of the £12 billion merger with Asda, emphasising that it was his own decision to leave.
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Polish retailer Piotr i Paweł enters into cooperation with Spar Group
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Major merger of Vietnamese retailers
Vingroup has announced that its retail and agriculture divisions (VinCommerce and VinEco) are to merge with Masan Consumer Holdings to establish Vietnam’s largest retail group. The new company will have a network of 2,600 VinMart and VinMart+ stores in 50 provinces, as well as VinEco’s 14 high-tech farms. Masan’s chairperson, Truong Cong Thang, said, “Vingroup has completed its mission to create the pioneer and most effective clean agriculture and retail system in Vietnam.