Tag: Retailing

Fortis puts 56m in An Post banking

Posted by | Oct 6, 2006 | |

International financial services company Fortis is to invest 56m in a joint venture with An Post to sell retail banking products though the post office network.

Under the deal, there will be initial capital of 112m with An Post contributing its subsidiaries, One Direct and PostPoint, to the new unnamed joint venture, in which both players will hold an equal share.

Under the agreement, which was signed yesterday, savings, insurance, mortgage and credit card products, among others, will be offered through the 1,400 post offices around the country.

The deal is still subject to Irish and EU regulatory approval and is expected to roll out on a phased basis between March and July of next year.

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Government approves An Post-Fortis Banking Joint Venture

Posted by | Sep 27, 2006 | |

The Irish banking sector received a major boost today following the approval by the Government of a joint venture agreement between An Post and the Belgian/Dutch international financial services company, Fortis. This fully functioning retail bank will offer a broad range of financial services and products to the Irish market, including insurance, mortgages, credit cards, indeed all the services to be expected from a first class retail bank.
The joint venture will employ approximately 250 people initially, rising to 500 within five years, and its products will be rolled out between March and July of 2007. This decision, which will change the face of banking in Ireland, is seen as a positive, exciting and strategically important initiative for customers, the shareholder, staff, management and Postmaster contractors.
The parties are investing heavily in the joint venture which will be a 50/50 partnership between An Post and Fortis . An Post will provide access to its network of branches together with two successful trading entities, PostPoint and One Direct. Fortis will contribute its international experience and expertise as well as cash. One Direct will form an integral part of the new company and its headquarters in Athlone will play a pivotal role.
The new financial services joint venture will utilise the network of post offices throughout Ireland to deliver a wide range of simple, straightforward, value for money retail banking products and services which will appeal to the banked and un-banked alike.

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Innovation is key to regaining pricing power and growing revenues, according to Kanbay Research Institute's 2006 Retail Demand Today Report

Posted by | Aug 17, 2006 | |

Even though consumers in the US today have more places and ways to shop than ever before, industry growth has been cut in half when comparing 2000-2005 to 1995-2000. The primary cause of the decline is due to a lack of retailer innovation, according to Kanbay Research Institute’s (KRI) latest report on retail demand. The report, which was released today, is entitled “Retail Demand Today: How Well Retailers Deliver on America’s Shopping Desires.” The report augments the data presented in Retail Demand Insights 2006, a co-branded report between the KRI and the NRF Foundation and sponsored by SAP Americas, which was released at the NRF’s annual convention in January 2006. Although retailers as a group have improved their delivery substantially since 2004, pricing power with consumers has dropped 68% from 8.1% to 2.6%. Most improvement has focused on either cost-cutting or opening more stores. Yet, shoppers increasingly want retailers to better connect with them in new and exciting ways.

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L. Patrick Lupo Joins Board of Directors of Bunge Limited

Posted by | Jul 20, 2006 | |

Bunge Limited today announced that L. Patrick Lupo, former chairman and chief executive officer of DHL Worldwide Express (DHL), has joined its Board of Directors. The appointment of Mr. Lupo brings the membership of Bunge’s board to 11. Mr. Lupo is an independent director and will serve on the Board’s Compensation Committee and its Finance and Risk Policy Committee.

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Internet takes over as catalogues slow down

Posted by | Jul 10, 2006 | |

The UK’s GBP37bn (EUR53bn) home delivery sector grew by just 3.2% in 2005, little more than half 2004’s growth rate of 5.6%, according to Verdict Research.

A slide in sales at traditional mail operators and consumer reluctance to make big-ticket furniture purchases was behind the slowdown, the researcher said.

“While sales via the internet and TV shopping channels made impressive strides, they have not been enough to prevent a sharp drop in growth in the UKs home delivery market overall, said Nick Gladding of Verdict. Mail order home delivery sales are down GBP585m (EUR842m) on 2002 levels while door-to-door channel sales growth levels have plummeted from 10% in 2004 to just 1.2% in 2005.” Internet sales, however, increased by 28.9% last year, and for the first time more than half of all home delivery shoppers placed orders online.

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