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Walmart

August 9, 2013

American Greetings Corporation returns to full family ownership, Wal-Mart mulls bid for Hong Kong supermarket chain, and Indian family firm announces expansion plans.

American Greetings Corporation returns to full family ownership, Wal-Mart mulls bid for Hong Kong supermarket chain, and Indian family firm announces expansion plans.

American Greetings Corporation
American Greetings Corporation has returned to private ownership, following a $612 million (€458 million) buyout by the Weiss family – descendants of Jacob Sapirstein who founded the company in 1906.

July 25, 2013

When they start a business, many people naturally give it there own name. It suggests solidarity and trustworthiness, and helps a lot in meetings. But is there a moment when it's no longer desirable to be inextricably tied to your family's business?

Earlier this year the French luxury group Pinault-Printemps-Redoute changed its name to Kering. In doing so, it took big step – it shed the family name. The decision to do so was taken by the chairman and CEO, Francois-Henri Pinault, who is the son of the business’s founder (the Printemps and Redoute are from various takeovers). Pinault cited perfectly sound business reasons for the rebranding – chief among them that only 5% of the group’s sales now come from France. Nonetheless, this is a Rubicon many family businesses would struggle to cross.

July 11, 2013

Many North American clothing brands that refused to sign a union-backed safety agreement following April’s factory disaster in Bangladesh, have now formed their own alliance to improve worker safety in the country.

Many North American clothing brands that refused to sign a union-backed safety agreement following April’s factory disaster in Bangladesh, have now formed their own alliance to improve worker safety in the country.

June 26, 2013

Family business should not be confused with small business in the US

Size matters in the US, which is home to some of the world’s biggest family businesses. The country’s five largest family-controlled firms – Walmart, Ford, Cargill, Koch Industries and Comcast – had combined revenues of $911.9 billion (€694.8 billion) in 2012, more than Indonesia’s GDP.

May 16, 2013

Walmart has stated it will not sign an international agreement to improve worker safety in Bangladesh drawn up by unions.

Walmart has stated it will not sign an international agreement to improve worker safety in Bangladesh drawn up by unions.

IndustriALL and UNI Global have spearheaded the plan in the wake of the collapse of the Rana Plaza, which killed more than 1,000 workers and is being described as one of the largest industrial disasters in recent history.

The agreement is a programme of fire safety reforms, independent inspections, and worker-led health and safety committees. It will also give unions access to factories.

February 22, 2013

It has generally been a strong week for family business results, with Lego and Prada posting impressive profits for 2012, while Walmart reported solid growth.

It has generally been a strong week for family business results, with Lego and Prada posting impressive profits for 2012, while Walmart reported solid growth.

Lego
In the face of sluggish economic recovery in Denmark, the toymaker famous for making billions of small, coloured bricks every year has posted outstanding results for 2012.

October 23, 2012

Sales and acquisitions have been proving popular with family businesses recently, with French outdoor advertiser JCDecaux and Brazilian food processor JBS in a buying mood, while L Capital and ArcelorMittal are considering selling some of their subsidiaries. 

Sales and acquisitions have been proving popular with family businesses recently, with French outdoor advertiser JCDecaux and Brazilian food processor JBS in a buying mood, while L Capital and ArcelorMittal are considering selling some of their subsidiaries.

Family-controlled JCDecaux has acquired a 25% stake in Russia’s largest billboard operator, Russ Outdoor, which until 2011 was a subsidiary of fellow family-controlled group News Corporation.

June 13, 2012

Stability is one of the classic benefits of a family business. They aren’t swayed by the fluctuations of the markets or the animal spirits of nervous people on Wall Street worried about their bonuses, mortgages and alimony cheques.

May 7, 2012

Remember Walmart’s “Get on the shelf” contest? The US family-controlled retailer has now announced the three winners of the competition – all of whom will have the chance to see their products being sold on the company’s online stores. 

Remember Walmart’s “Get on the shelf” contest? The US family-controlled retailer has now announced the three winners of the competition – all of whom will have the chance to see their products being sold on the company’s online stores.

The “grand prize” went to Philadelphia-based HumanKind Water, a bottled water company that uses its net profits to provide clean water.

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