Executive Summary

• This week, the FBIC Global Retail & Technology team attended the Goldman Sachs 22nd Annual Global Retailing Conference.
• Department store giant Macy’s plans to open 10 Best Buy stores-within-a-store in November, as Macy’s seeks to better leverage its real estate.
• China’s top transportation app startup, Didi Kuaidi, has now raised US$3 billion in total funding, on top of the US$2 billion it raised in July, whereas Uber is tentatively seeking to raise US$1.2 billion for its China business.
• Germany’s largest retailer, Metro Group, is forming an e-commerce partnership with Alibaba that will allow Chinese consumers to purchase more than 100 German products on Alibaba’s Tmall website.