International Retailer A lot of hot air
News from the tangled web that is the globalised economy. In Japan, global investment outfit KKR has signed an agreement to purchase the entirety of the Rakuten Group’s stake in the Japanese supermarket chain Seiyu, increasing KKR’s holding from 65% to 85%. And in the US, a Japanese department and grocery store called Teso Life, which has opened nine stores since launching six years ago, has eight more in the works. Teso Life brings well-known Japanese brands and products stateside, including dry foods like nuts, confectionery, dried seafood, and Asian seasonings. The stores also feature select products from China. And in the UK, posh retailer Sainsbury’s has opened a flagship store in Hook, Hampshire, which it says will be the most energy-efficient supermarket anywhere, using 25% less power than its own previous most efficient store and half the energy of a similarly sized standard supermarket. It will practice such innovations as channelling air that escapes from fridges to other areas of the store that need cooling, 700 solar panels on the roof, and chillers with doors that will reduce energy demands by as much as 60%.
Comment: As we have often remarked, much of the work we need to do to bring our industry to carbon neutral may be achieved through efficiencies.