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Joint venture to develop residential community at Gloucester City Centre in Ottawa, Ontario

TORONTO, ONTARIO and HALIFAX, NOVA SCOTIA, 2017-Apr-26 — /EPR Retail News/ — RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) and Killam Apartment Real Estate Investment Trust (“Killam”) (TSX:KMP.UN) are pleased to announce the formation of a joint venture to develop a rental residential community at Gloucester City Centre in Ottawa, Ontario.

On April 21, 2017, Killam acquired a 50% interest in a discrete 7.1 acre development site located adjacent to RioCan’s Gloucester Silver City Shopping Centre, in the east end of Ottawa. The purchase price for Killam’s 50% interest is $8 million ($16 million at 100%). RioCan and Killam each own a 50% interest in the land and will participate on the same basis in the costs to develop the project. RioCan will act as the development manager, and upon completion, Killam will act as the residential property manager.

The site has zoning approval for a total of four residential towers containing up to an aggregate of 840 units. The first phase of the development will include a 217,000 square foot, 23-storey tower containing approximately 222 units. This leading edge development will maximize efficiency with the incorporation of a geothermal energy system for the building’s heating and cooling. Site work has commenced and occupancy is anticipated in mid-2019. Located adjacent to RioCan’s Silver City Gloucester retail centre and Ottawa’sLight Rail Transit (LRT) Blair Station on the Confederation Line East, the development is easily accessible to many retail, entertainment and transit options.

“We are very pleased to partner with Killam on our first rental residential development in Ottawa. Killam’s experience and management expertise in the rental residential segment will ensure the success of this development project,” said Edward Sonshine, Chief Executive Officer of RioCan. “This rental residential development along the expanding Confederation LRT line is a prime example of the opportunities that RioCan has to extract additional value and cultivate new sources of cash flow from our portfolio of transit oriented urban locations.”

“This joint venture is an exciting opportunity for Killam,” noted Philip Fraser, Killam’s President and Chief Executive Officer. “It aligns with Killam’s growth strategy of developing high-quality properties and diversifying geographically, with an emphasis on next generation operating systems and building features. Partnering with RioCan provides Killam the opportunity to participate in a four-phase apartment complex located next to both modern transit and amenities, and to grow our Ontario portfolio.”

“Despite recently announced expanded rent control guidelines in Ontario to include apartments built after 1991, new apartment development continues to be a sound strategy,” continued Mr. Fraser. “The all-cash yield on this project is expected to be well above the return achievable in today’s acquisition market. This is expected to translate into net asset value creation for Killam’s unitholders upon completion of the project. In addition, with an expected net operating margin of approximately 70%, compared to 55% to 60% for many older assets, the property’s exposure to increased operating costs is limited, and its long-term net operating income growth potential is enhanced. Finally, with no deferred capital, the net cash flow from the project is expected to be stable and predictable.”

About RioCan

RioCan is Canada’s largest real estate investment trust with a total enterprise value of approximately $14.6 billion as at December 31, 2016. RioCan owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 300 Canadian retail and mixed use properties, including 15 properties under development, containing an aggregate net leasable area of 47 million square feet. For further information, please refer to RioCan’s website at www.riocan.com.

About Killam Apartment REIT

Killam Apartment REIT, based in Halifax, Nova Scotia, is one of Canada’s largest residential landlords, owning, operating and developing multi-family apartments and manufactured home communities. Killam’s current portfolio includes $2.0 billion in real estate assets. Killam’s strategy to maximize its value and long-term profitability includes concentrating on three key areas of growth: 1) increasing the earnings from its existing portfolio, 2) expanding its portfolio and diversifying geographically through accretive acquisitions, with an emphasis on newer properties, and 3) developing high-quality properties in its core markets.

Forward Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws. This information includes, but is not limited to, statements made with respect to RioCan’s and Killam’s development program, their joint venture, the ability of the joint venture to complete the development project, and other statements concerning RioCan’s and Killam’s objectives, their strategies to achieve those objectives, as well as statements with respect to their respective management’s beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plan”, “continue”, or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. All forward-looking information in this News Release is qualified by these cautionary statements.

Forward-looking information is not a guarantee of future events or performance and, by its nature, is based on RioCan’s or Killam’s current estimates and assumptions, which are subject to numerous risks and uncertainties, including those described under “Risks and Uncertainties” in both RioCan’s and Killam’s Management’s Discussion and Analysis (“MD&A”) for the year ended December 31, 2016, and their most recent Annual Information Forms, which could cause actual events or results to differ materially from the forward-looking information contained in this News Release. Those risks and uncertainties include, but are not limited to, those related to: liquidity in the global marketplace associated with current economic conditions; tenant concentrations and related risk of bankruptcy or restructuring (and the terms of any bankruptcy or restructuring proceeding), defaults, including the failure to fulfill contractual obligations by the tenant or a related party thereof; retailer competition; access to debt and equity capital; interest rates and financing risk; joint ventures and partnerships; the relative illiquidity of real property; development risk associated with construction commitments, project costs and related approvals; environmental matters; occupancy levels; unexpected costs or liabilities related to acquisitions or dispositions; legal matters; reliance on key personnel; income taxes; the conditions to the transactions not being satisfied resulting in the failure to complete some or all of the proposed transactions described herein; lack of availability of acquisition or disposition opportunities for the Trust and exposure to economic, real estate and capital market conditions in North America. Although the forward looking information contained in this News Release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Certain statements included in this News Release may be considered “financial outlook” for purposes of applicable securities laws, and such financial outlook may not be appropriate for purposes other than this News Release.

The Income Tax Act (Canada) contains provisions which potentially impose tax on publicly traded trusts (the SIFT Provisions). However, the SIFT Provisions do not impose tax on a publicly traded trust which qualifies as a REIT. RioCan and Killam both currently qualify as real estate investment trusts for Canadian tax purposes and intends to qualify for future years. Should this not occur, certain statements contained in this News Release may need to be modified.

Except as required by applicable law, neither RioCan nor Killam undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Contact Information:
RioCan REIT
Edward Sonshine, O. Ont., Q.C.
Chief Executive Officer
(416) 866-3018

Killam Apartment REIT
Philip Fraser
President & CEO
(902) 453-4536
pfraser@killamreit.com

Source: RioCan

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PVH / Grupo Axo joint venture in Mexico to be closed

NEW YORK & MEXICO CITY, 2016-Dec-05 — /EPR Retail News/ — PVH Corp. [NYSE:PVH] and Grupo Axo announced today (Dec. 1, 2016) the closing of its previously announced agreement to form a joint venture that now licenses from wholly owned subsidiaries of PVH the rights to operate and manage the distribution of Calvin Klein, Tommy Hilfiger, Warner’s, Olga andSpeedo brand products in Mexico. The joint venture was formed by merging PVH México, S.A. de C.V., a wholly owned subsidiary of PVH and the operator of its Calvin Klein and Heritage Brands businesses in Mexico, with Baseco, S.A. de C.V., a wholly owned subsidiary of Grupo Axo and a distributor in Mexico of PVH’s Tommy Hilfiger brand products. Additionally, the newly formed joint venture also has the license to operate Tommy Hilfiger footwear, as the license agreement with a third party was recently assigned to Baseco. Terms of the joint venture were not disclosed. As previously disclosed, PVH expects this transaction to be neutral to PVH’s 2016 earnings.

“We believe that leveraging Grupo Axo’s in region expertise across our brand portfolio should ensure the long-term potential of our brands inMexico while maintaining a direct ownership interest in our Calvin Kleinand Heritage Brands businesses in Mexico and giving us more control over our Tommy Hilfiger business in the region,” said Emanuel Chirico, Chairman and CEO of PVH.”

“We are excited about the opportunity to expand our relationship beyond Tommy Hilfiger to include the global megabrand, Calvin Klein, as well as the Warner’s, Olga and Speedo heritage brands. We believe all these brands present a significant opportunity for growth in Mexico and we look forward to partnering with PVH to make that potential a reality,” said Andres Gomez, Co-Chief Executive Officer of Grupo Axo.

About PVH Corp.

With a history going back over 130 years, PVH Corp. has excelled at growing brands and businesses with rich American heritages, becoming one of the largest apparel companies in the world. We have over 30,000 associates operating in over 40 countries with over $8 billion in annual revenues. We own the iconic Calvin Klein, Tommy Hilfiger, Van Heusen, IZOD, ARROW, Speedo*, Warner’s and Olga brands and market a variety of goods under these and other nationally and internationally known owned and licensed brands.

*The Speedo brand is licensed for North America and the Caribbean in perpetuity from Speedo International, Ltd.

About Grupo Axo

Grupo Axo is a leading multi-brand company in Mexico for apparel, accessories and home brands. Today, Group Axo is an indispensable reference and the most reliable resource for the firms and partners that want to build a successful platform in the Latin-American Market. With a solid retail and wholesale experience for over 22 years, its expertise comes from representing, elevating equity, distributing and operating brands through a multi-channel approach. As of 2016, Grupo Axo operates more than 2,200 points of sale within major department stores and over 400 free-standing stores in both Mexico and Chile. Within its portfolio, Grupo Axo proudly represents Abercrombie & Fitch, Bath & Body Works, Brooks Brothers, Brunello Cucinelli, Coach, Crate & Barrel, Emporio Armani, Guess, Kate Spade, Theory, Express, Hollister, Chaps, Loft, Rapsodia, Thomas Pink, Tommy Hilfiger, Victoria´s Secret and Promoda, the leading off-price retailer in Mexico. www.grupoaxo.com

PVH CORP. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995:

Forward-looking statements made in this press release, including, without limitation, statements relating to PVH Corp.’s future earnings, plans, strategies, objectives, expectations and intentions, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy, and some of which might not be anticipated, including, without limitation, the following: (i) the Company’s plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the levels of sales of the Company’s licensees at wholesale and retail, and the extent of discounts and promotional pricing in which the Company’s licensees and other business partners are required to engage, all of which can be affected by weather conditions, changes in the economy, fuel prices, reductions in travel, fashion trends, consolidations, repositionings and bankruptcies in the retail industries, and other factors; (iii) civil conflict, war or terrorist acts, the threat of any of the foregoing, or political and labor instability in any of the countries where the Company’s licensees’ or other business partners’ products are sold, produced or are planned to be sold or produced; (iv) disease epidemics and health related concerns, which could result in closed factories, reduced workforces, scarcity of raw materials and scrutiny or embargoing of goods produced in infected areas, as well as reduced consumer traffic and purchasing, as consumers limit or cease shopping in order to avoid exposure or become ill; (v) the failure of the Company’s licensees to market successfully licensed products or to preserve the value of the Company’s brands, or their misuse of the Company’s brands and (vi) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.

The Company does not undertake any obligation to update publicly any forward-looking statement, whether as a result of the receipt of new information, future events or otherwise.

Media / Investors:
Dana Perlman
+1 212-381-3502
Treasurer, Senior Vice President – Business
Development and Investor Relations
investorrelations@pvh.com

Calvin Klein:
Alexandra Wagner
+1 212-292-9794
VP, Corporate Communications
alexandrawagner@ck.com

Tommy Hilfiger:
Abdel El Hamri
+1 212-548-1728
SVP, Global Communications
Abdel.ElHamri@tommy.com

GRUPO AXO
Investors Relations:
Raúl del Villar
+52 (55)30005169
Chief Finance Officer
rdelvillar@grupoaxo.com

Media and Communications:
Lorenzo Ruiz
+52 (55)30005168
VP, Marketing and Communications
lruiz@grupoaxo.com

Source: PVH Corp.

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RioCan and Boardwalk joint venture to develop a mixed use tower at RioCan’s Brentwood Village Shopping Centre in Calgary, AB

  • RioCan Real Estate Investment Trust (TSX:REI.UN, “RioCan”) and;
  • Boardwalk Real Estate Investment Trust (TSX:BEI.UN, “Boardwalk”)

Toronto, Ontario and Calgary, Alberta, 2016-Nov-11 — /EPR Retail News/ — RioCan and Boardwalk are pleased to announce the formation of a joint venture to develop a mixed use tower on a discrete portion at RioCan’s Brentwood Village Shopping Centre in Calgary, AB. RioCan will maintain a 100% ownership interest in the remainder of the centre.

The project will consist of an at-grade retail podium totaling approximately 10,000 square feet and an 11-storey residential tower with approximately 120,000 square feet of residential space, totaling approximately 165 apartment units.  The development will include two levels of underground parking and will provide premium rental housing minutes from downtown Calgary along the Northwest Light Rail Transit line, while providing close proximity to the University of Calgary, McMahon Stadium, and Foothills Hospital.

Sam Kolias, Chairman and Chief Executive Officer of Boardwalk REIT commented: “We are excited to announce the formation of this joint venture with a like-minded partner who shares similar values and goals as our own, to maximize the potential of well-located, transit oriented mixed use developments that can be constructed to create new communities that Residents are proud to call home.”

“We are very pleased to partner with Boardwalk on our first rental residential development in the Calgary market. Boardwalk brings a wealth of management expertise to the rental residential segment, particularly within the Alberta market,” said Edward Sonshine Chief Executive Officer of RioCan. “This rental residential tower will be an excellent addition to this mixed use shopping centre, and a great example of just one of the many urban intensification projects that RioCan has on hand within its portfolio of high quality urban locations in Canada’s six major markets.”

The joint venture involves an equal 50% interest, in which, each will provide its best-in-class retail and residential expertise to co-develop the asset.  To maximize the value of the development, RioCan will manage the retail component, and Boardwalk will manage the residential component each on a cost basis.

RioCan and Boardwalk are currently working together to finalize the submission of plans for a development permit.  Subject to certain conditions including the receipt of both the development permit and the subdivision of the lands on terms and conditions satisfactory to both RioCan and Boardwalk, closing is expected to occur in mid-2017, with construction beginning as early as Q3, 2017.

Based on the determination of total buildable area, Boardwalk will pay RioCan approximately $2.9 million for its 50% interest in the sub-divided land at closing.  Subject to the finalization of building plans and specifications, it is estimated that the total construction for the project will be between $60 million to $70 million ($30 million to $35 million per partner.)

About RioCan

RioCan is Canada’s largest real estate investment trust with a total enterprise value of approximately $15 billion as at September 30, 2016. RioCan owns and manages Canada’s largest portfolio of shoppingcentres with ownership interests in a portfolio of 301 Canadian retail and mixed use properties, including 15 properties under development, containing an aggregate net leasable area of 47 million square feet.For further information, please refer to RioCan’s website at www.riocan.com.

 About Boardwalk

Boardwalk REIT strives to be Canada’s friendliest landlord and currently owns and operates more than 200 communities with over 33,000 residential units totaling over 28 million net rentable square feet. Boardwalk’s principal objectives are to provide its Residents with the best quality communities and superior customer service, while providing Unitholders with sustainable monthly cash distributions, and increase the value of its Trust Units through selective acquisitions, dispositions, development, and effective management of its residential multi-family communities. Boardwalk REIT is vertically integrated and is Canada’s leading owner/operator of multi-family communities with 1,400 Associates bringing Residents home to properties located in Alberta, Saskatchewan, Ontario, and Quebec.

Boardwalk REIT’s Trust Units are listed on the Toronto Stock Exchange, trading under the symbol BEI.UN. Additional information about Boardwalk REIT can be found on the Trust’s website at www.BoardwalkREIT.com.

 Forward Looking Information

This news release contains forward-looking information within the meaning of applicable Canadian securities laws. This information includes, but is not limited to, statements made with respect to RioCan’s and Boardwalk’s development program, their joint venture, the ability of the joint venture to achieve any necessary development approvals, and other statements concerning RioCan’s and Boardwalk’s objectives, their strategies to achieve those objectives, as well as statements with respect to management’s beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plan”, “continue”, or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. All forward-looking information in this News Release is qualified by these cautionary statements.

Forward-looking information is not a guarantee of future events or performance and, by its nature, is based on RioCan’s or Boardwalk’s current estimates and assumptions, which are subject to numerous risks and uncertainties, including those described under “Risks and Uncertainties” in both RioCan’s and Boardwalk’s Management’s Discussion and Analysis (“MD&A”) for the period ended September 30, 2016, their most recent Annual Reports and Annual Information Forms, which could cause actual events or results to differ materially from the forward-looking information contained in this News Release. Those risks and uncertainties include, but are not limited to, those related to: liquidity and general market conditions; tenant concentrations and related risk of bankruptcy or restructuring (and the terms of any bankruptcy or restructuring proceeding), defaults, including the failure to fulfill contractual obligations by the tenant or a related party thereof; retailer competition; access to debt and equity capital; interest rate and financing risk; joint ventures and partnerships; the relative illiquidity of real property; development risk associated with construction commitments, project costs and related approvals; environmental matters; and property management, . liquidity in the global marketplace associated with current economic conditions, occupancy levels, access to debt and equity capital, interest rates, the relative illiquidity of real property, unexpected costs or liabilities related to acquisitions or dispositions, construction, environmental matters, legal matters, reliance on key personnel, income taxes, the conditions to the transactions not being satisfied resulting in the failure to complete some or all of the proposed transactions described herein, the trading price of the securities of Boardwalk, lack of availability of acquisition or disposition opportunities for the Trust and exposure to economic, real estate and capital market conditions in North America.  Although the forward looking information contained in this News Release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. Certain statements included in this News Release may be considered “financial outlook” for purposes of applicable securities laws, and such financial outlook may not be appropriate for purposes other than this News Release.

The Income Tax Act (Canada) contains provisions which potentially impose tax on publicly traded trusts (the SIFT Provisions). However, the SIFT Provisions do not impose tax on a publicly traded trust which qualifies as a REIT. RioCan and Boardwalk both currently qualify as real estate investment trusts for Canadian tax purposes and intends to qualify for future years. Should this not occur, certain statements contained in this News Release may need to be modified.

Except as required by applicable law, neither RioCan nor Boardwalk undertake any obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

For further information please contact:

RioCan REIT
Cynthia J. Devine
Executive Vice President, CFO and Corporate Secretary
(647)253-4973

Boardwalk REIT
James Ha
Director; Finance and Investor Relations
(403)531-9255

Source: RioCan

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Coop Kiel Vorstände: “Joint Venture zwischen REWE und Coop sichert sky-und plaza-Märkte und Arbeitsplätze dort langfristig“

Koln, Deutschland, 2016-Nov-02 — /EPR Retail News/ — Das Bundeskartellamt hat heute das Joint Venture zwischen der norddeutschen Coop eG und der REWE Markt GmbH unter Auflagen freigegeben. Dazu erklärten die Vorstände der Coop Kiel, Rüdiger Kasch und Thorsten Tygges: „Dieses Joint Venture zwischen REWE und Coop Kiel sichert die sky- und plaza-Märkte der Coop Kiel und die Arbeitsplätze der Beschäftigten dort langfristig und schafft zugleich hervorragende Perspektiven für die zukünftige positive Entwicklung des Unternehmens.“

REWE plant mindestens 55 Prozent an der Supermärkte Nord Vertriebs GmbH & Co. KG i.G. zu erwerben, in die die Standorte der Coop eingebracht werden. Bereits im September 2016 hatte die coop eG ihr operatives Geschäft in die Supermärkte Nord Vertriebs GmbH & Co. KG i.G. ausgegliedert. Mit vollem Respekt für die wettbewerbsrechtliche Prüfung des Bundeskartellamtes haben REWE und Coop bereits während des laufenden Verfahrens elf Filialen aus den betroffenen Regionalmärkten an die wettbewerblich unabhängige, mittelständische Bartels Langness-Gruppe verkauft. Die Mitarbeiter der betreffenden Standorte werden im Wege des Betriebsstättenüberganges nach § 613a BGB von der Bartels-Langness Handelsgesellschaft mbH & Co. KG übernommen und wurden bereits informiert.

Aus Coop-Sicht ist dieser Schritt zu einer strategischen Partnerschaft mit REWE wesentlich für die Sicherung des Unternehmens, seiner Arbeitsplätze sowie zur nachhaltigen Gewährleistung seiner Wettbewerbsfähigkeit. REWE und Coop hatten bereits vor Jahren eine Einkaufskooperation gebildet. Durch die jetzt weiter vertiefte enge Zusammenarbeit der beiden genossenschaftlichen Kooperationspartner entstehen deutliche Synergien, die beide positiv für sich nutzen können. Mit REWE als strategischem Partner wird Coop weiter in innovative Neuerungen, wie etwa die Eigenmarke »coop Feine Lebensmittel«, oder die Einführung des neuen Marktkonzepts investieren können. So sieht Coop sich den kommenden Herausforderungen durch die sich dynamisch verändernden Markt- und Wettbewerbsbedingungen auch weiterhin gewachsen.

Über die Supermärkte Nord Vertriebs GmbH & Co. KG.

Die Supermärkte Nord Vertriebs GmbH & Co. KG ist ein Unternehmen der coop eG Kiel. Mit mehr als 200 sky- und plaza-Märkten sowie selbstständigen Partnern in Schleswig-Holstein, Mecklenburg-Vorpommern, Hamburg sowie in Teilen Niedersachsens und Brandenburgs zählt die Gesellschaft zu den größten Lebensmitteleinzelhandelsunternehmen im Norden.

Qualität und Regionalität zeichnen die sky-Märkte aus, was besonders durch die Eigenmarken »Unser Norden« und »coop Feine Lebensmittel« deutlich wird. Beim Sortiment legt man einen besonderen Fokus auf Convenience und frische Produkte. Dies zeigt sich vor allem durch die Obst- und Gemüseabteilung sowie die Bedienabteilung für Fleisch, Wurst und Käse. Den coop-Mitgliedern bieten sich mit der coop-Vorteilskarte viele Einkaufsvorteile und Rabatte.

Über REWE

Mit einem Umsatz von 17,7 Mrd. Euro (2015), rund 119.000 Mitarbeitern und weit über 3.000 REWE-Märkten gehört die REWE Markt GmbH zu den führenden Unternehmen im deutschen Lebensmitteleinzelhandel. Die REWE-Märkte werden als Filialen oder durch selbstständige REWE-Kaufleute betrieben.

Die genossenschaftliche REWE Group ist einer der führenden Handels- und Touristikkonzerne in Deutschland und Europa. Im Jahr 2015 erzielte das Unternehmen einen Gesamtaußenumsatz von über 52,4 Milliarden Euro. Die 1927 gegründete REWE Group ist mit ihren 330.000 Beschäftigten und 15.000 Märkten in 20 europäischen Ländern präsent. In Deutschland erwirtschafteten im Jahr 2015 rund 232.000 Mitarbeiter in rund 10.000 Märkten einen Umsatz von 38,2 Milliarden Euro.

Kontakt:

Supermärkte Nord Vertriebs GmbH & Co. KG
Sabine Pfautsch
Leiterin Unternehmenskommunikation
Tel.: 0431/7250-365
sabine.pfautsch@unser-norden.de

REWE Markt GmbH
Raimund Esser
Leiter Unternehmenskommunikation
Tel. 0221/149-1610
presse@rewe.de

Für Rückfragen:
Raimund Esser
Leiter Unternehmenskommunikation
Tel: +49 221 149 1610
Mail: presse@rewe.de

Source: REWE Group

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Starbucks and Tata Sons Limited expand existing partnership

Starbucks Reserve Tata Nullore Estates is the first single-origin coffee from India available to customers in the U.S., joint-venture extends the reach of Starbucks coffee and expands coffee roasting capabilities

Partnership also unveils joint investment in the Tata STRIVE skills development program

MUMBAI and SEATTLE, 2016-Jun-28 — /EPR Retail News/ — In a meeting at the iconic Starbucks Reserve® Roastery and Tasting Room in Seattle, Washington, chairman and chief executive officer of Starbucks Coffee Company (NASDAQ: SBUX), Howard Schultz, and chairman, Tata Sons Limited, Cyrus Mistry, announced multiple new joint initiatives last week which expand the existing Tata and Starbucks relationship and strengthen the companies’ commitment to developing the Tata-Starbucks brand and building a different kind of company in India.

For the first time, Starbucks will offer a single-origin coffee from India in the U.S., giving customers from outside the country a unique opportunity to experience a rare, small-lot coffee from the Tata Nullore Estates located in the beautiful Coorg coffee growing area of India. Starbucks Reserve® Tata Nullore Estates will be the first coffee from India to be roasted at the Starbucks Reserve® Roastery and Tasting Room and will only be available at this Seattle location later this year.

“These announcements build upon the incredible success and shared values between Starbucks and Tata in our partnership in India,” said Schultz. “We are humbled by the way in which customers in India have embraced Starbucks elevated coffeehouse experience, which now spans to more than 80 stores across six cities. As we continue on our journey with Tata, we are delighted to introduce the finest coffee from India to a new audience. Starbucks Reserve® Tata Nullore Estates, the first ever Starbucks Reserve® coffee sourced exclusively from India, highlights the deep coffee heritage and expertise of both companies to source, roast and distribute the finest-quality arabica coffees and elevates the story of India coffee for our customers.”

Starbucks also announced plans to increase its coffee roasting capacity for supplying its stores in India. Since Tata Coffee Limited opened its doors to a roasting and packaging plant in Kushalnagar in Coorg, Karnataka, in 2013, this facility has steadily increased its roasting capabilities. Today, it roasts Starbucks® India Estates Blend and Espresso Roast coffees and will soon expand to include both Kenyan and Sumatran coffees for Starbucks stores throughout India. This builds upon Tata and Starbucks commitment to cultivate a future supply of high-quality, sustainable green coffee from existing and potential new sources in India through world-class agronomy practices.

“We are proud to work with Starbucks, a company which shares our commitment to both the coffee growing regions and the coffee farmers to ensure we meet the global demand for high-quality coffee over the long-term,” said Mistry. “Our journey with Starbucks since 2012 has been gratifying and we are pleased to build on the strong relationship between Starbucks and the Tata group as we continue to further advance Indian coffee around the globe. We are honored to be sourcing the finest Indian coffee and introducing Starbucks customers outside India to its quality for the first time.”

Starbucks Soars to New Heights

Starbucks also announced it will soon take flight on Vistara, India’s fastest growing full service airline, later this year. Starbucks fresh brewed coffee service will be exclusively available on all Vistara flights. A joint venture between Tata Sons and Singapore Airlines, Vistara operates more than 457 flights weekly to 17 destinations across India and, in June, celebrated the milestone of flying two million travelers.

A New Tea Experience

Building on the sustained success of the tea category in Starbucks U.S. retail stores, Starbucks will extend its Teavana specialty tea brand to India this December with unique bold and customized flavor combinations. Like its industry-leading green coffee sourcing practices, Starbucks and Tata are committed to promoting sustainable tea practices and are collaborating on the development of a signature Indian tea blend that will be available across all Starbucks stores in India.

Expansion of Himalayan Water Program

Starbucks also plans to expand the availability of Himalayan Mineral Water, bottled by Tata Global Beverages, beyond Starbucks stores in India to Singapore later this year, as the companies explore opportunities to introduce the bottled water brand to stores across Starbucks China and Asia Pacific region. Himalayan Mineral Water is bottled at the source from a pure and pristine underground moving stream aquifer at the foothills of the Shivalik range in the Himalayas. This aquifer is one of the largest and purest sources in the world, providing a perennial source of natural mineral water.

Creating New Pathways to Opportunities

A core value for both Starbucks and Tata is using their scale to change lives for the better. Today, Howard Schultz and Cyrus Mistry committed to come together to provide young people in India with valuable skills training over the next five years through Tata STRIVE, an initiative which empowers India’s youth with skills for employment, entrepreneurship and community enterprise. Since launching in 2014, Tata STRIVE has supported approximately 43,000 youth to-date. The joint partnership combines Tata STRIVE’s expertise in providing job skills training and Starbucks expertise in retail operations, which is expected to impact 3,000 disadvantaged youth in India.

“Today, we are proud to extend Starbucks partnership with Tata to enrich the lives of Indian youth and enable them to enter and thrive in the 21st century workforce,” said John Culver, group president, Starbucks Coffee China and Asia Pacific, Channel Development and Emerging Brands. “Our collaboration with Tata underscores our collective commitment to lifelong learning and relevant career skills development. We will continue to make investments to provide pathways to opportunities for young people to realize their personal aspirations and dreams.

Media contact:

Global
Phone: 206 318 7100
Email: press@starbucks.com

###

Starbucks and Tata Sons Limited expand existing partnership

Starbucks and Tata Sons Limited expand existing partnership

 

Source: Starbucks

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Chinese Aisino Corporation established a joint venture with Wincor Nixdorf in China

PADERBORN, GERMANY, 2016-Jun-24 — /EPR Retail News/ — Aisino Corporation, a Chinese company that specializes in intelligent anti-forgery tax control systems, EFT POS solutions, financial IC cards, bill receipt printing solutions and public IT security solutions, has established a joint venture (JV) with Wincor Nixdorf in China to develop, produce and market IT solutions for banking and retail companies in China. The JV is strategically positioned to primarily tap the sizeable banking business in the country by offering solutions that meet Chinese banking regulations. Aisino, which currently employs more than 20,000 people in China and earns annual revenues of USD 3.2 billion, holds a majority interest of 51 percent in the joint venture.

Operating under the name Aisino Wincor, the JV will offer banks and retailers an extensive range of hardware, software and services. The JV’s comprehensive portfolio comprises POS systems and self-checkout solutions for the retail segment as well as self-service solutions for the banking segment. Banking solutions include ATMs, cash recycling systems and the software necessary to operate the systems. The JV’s portfolio will also extend to offering the banking segment end-to-end services that help customers manage their self-service networks. These professional and managed services range from deployment and project management to life-cycle maintenance.

“Thanks to the partnership with Aisino, we will improve our position in this strategically important market. We will also be able to help Chinese banks and retailers to become more efficient and profitable by offering them innovative solutions,” said Eckard Heidloff, President and Chief Executive Officer of Wincor Nixdorf.

“We look forward to a successful future with Wincor Nixdorf, an internationally recognized leading provider of IT solutions for both the banking and retail industries,” stated Mr. Shi Yang, CEO of the Aisino Group.
The joint venture will commence operations after relevant approval granted by the authority and is headquartered in Shanghai.

Press Contacts:

Press/Financial Press
Andreas Bruck
Head of Corporate Communications
Phone: +49 5251 693 5200
E-Mail: andreas.bruck@wincor-nixdorf.com

Press/Trade Press
Dr. Thomas Daubenbüchel
Head of Press and Editorial Office
Phone: +49 5251 693 5212
E-Mail: thomas.daubenbuechel@wincor-nixdorf.com

Ulrich Nolte
Phone: +49 5251 693 5211
E-Mail: ulrich.nolte@wincor-nixdorf.com

Trade Press
Claudia Wendorff-Goerge
Phone: +49 5251 693 5203
E-Mail: claudia.wendorff-goerge@wincor-nixdorf.com

Source: Wincor Nixdorf