1. New casualties in UK grocery wars
Iconic UK grocery chain Sainsbury’s will slash 2,000 jobs. The group and its British peers are engaged in a price war with German interlopers Aldi and Lidl, and are being forced to take drastic measures. Tesco has retrenched more than 2,000 staff and Asda is looking to cut either staff or working hours.
2. Cognac conundrum
The success of brown spirits globally means cognac’s popularity is soaring. This sounds good for the century-old spirit — except there’s a snag. Last week, luxury empire LVMH announced its Hennessy cognac brand is running short. The firm is making plans that include planting new vineyards, but the problem is that vines take a few years to grow.
3. Girls are a diamond’s best friend
The global marriage rate is dropping, which has put the diamond industry in a bind. After all, what will it sell if not engagement rings? The answer: sparkly gifts from women to themselves. At least that’s what the De Beers “2017 Diamond Insight Report” says. Because of a strong female workforce, more women are buying their own diamonds than ever, says the report. In 2016, 31% of all women’s diamond jewellery in the US was bought by women themselves.
4. Adidas sprints ahead
From tiny robotic hands to your feet in six days — that’s the new adidas Speedfactory. The group’s hi-tech German outfit is able to produce and ship particular brands of its trainers in less than a week. The company still makes the bulk of its 600m products in the East, but this micro-plant will allow it to be more on-trend.