Emerging markets, whether in Asia, Latin America, Africa or Eastern Europe, defy all attempts at taxonomy. What works in one market may not even be remotely relevant to another. The sheer diversity of profiles, characteristics and dynamics makes it virtually impossible to compile a shopping list of best practices that global retailers can leverage across markets. However, there are some fundamentally relevant factors that retailers must consider in order to succeed in emerging economies.
Eugene Fife is the newest member of the Office Depot board. The office products retailer added Fife to the board after James Rubin stepped down. Rubin was required to give up his seat because of a stipulation in an investor rights agreement Office Depot struck with BC Partners in 2009 that gave the firm three board seats after it made a sizable investment. The agreement required BC Partners board members to be employed by the firm and because Rubin recently resigned from BC Partners he was no longer allowed to serve on the Office Depot board. However, in the
The exploding economies of Brazil, Russia, India and China (the BRIC countries) have become very attractive to e-merchants looking to get in on the ground floor of these emerging markets. Despite the fact that internet penetration remains less than 50 percent in all four markets, the sheer population of these countries points to tremendous growth opportunity. With a combined e-commerce market value already exceeding $109 billion, the BRIC markets truly have nowhere to go but up.
Tiffany & Co. announced plans to open a store in Prague, marking the luxury retailer’s first location in Eastern Europe. The 2,600 square-foot store is scheduled to open in the summer of 2012.