Visa Introduce Payment Ring
No, this ring is not a group
of customers, it is the jewellery type of ring, and Visa have now made it
available to the general public. Customers can tap the ring at a store terminal
without having to pull out their card or phone. The ring is expected to be
available in the US by the end of the year at a cost of $53.
The Co-op Buys Australian
Geographic Stores
The Co-op is an on-campus
retailer with an online presence and over 60 bricks’n’mortar stores around
Australia. It sells text books, homewares, toys and office supplies, and has a
strong student and ex-student following.
The acquisition of Australian
Geographic’s 66 retail stores and online business is expected to be completed
early September.
Water Adds To Coca Cola
Bottom Line
Coca Cola have reported
falling demand for traditional soft drinks and are concentrating on water,
energy, and dairy drinks. Softness in fizzy drinks was countered with a 9.3% increase
in still beverages following the introduction of new brands including FUZE Tea
and Monster Energy.
High Tech Towing Takes Out
Telstra Small Business Award.
This years national New
Business Award went to a two year old towing company called Tow.com.au. The
company started in Queensland, securing a partnership with Queensland Police for
a state-wide contract. Operations are now national with plans to expand into
NZ.
Two More Fashion Businesses
Bite The Dust
Women’s clothing retailer, Seduce,
has entered voluntary administration. The chain operated 9 Australian stores
specialising in fashion for women aged 25-35. The brand has stores in Dubai and
China and supplies a number of other retailers including Myer and The Iconic.
And it was recently announced
that fashion label Willow is to shut up shop after owner Apparel Group (JAG,
Sportscraft and Saba) decided it no longer fits their long term strategy.
Queensland Appoints Chief
Entrepreneur
In a move designed to emulate
the success of Israel’s start-up culture, the Queensland Government has
appointed Blue Sky Alternative Investments founder, Mark Sowerby, to head up
their Advance Queensland program.
Sowerby’s role will be to
oversee all start-up and entrepreneurial related projects and he says he will
be concentrating on developing ideas, taking them to market, and creating jobs
along the way.