By 2016, it was lights out for bauMax, Austria’s first – and for the longest time one of the most successful – Do-it-yourself (DYI) retail chains. Founded in 1976 by Karlheinz Essl, the son of an Austrian food wholesale merchant, bauMax opened its first self-service supermarket for construction materials, machines, and tools in Austria in […]
In 2018, Apple Inc., a global leader in consumer electronics, faced an unexpected challenge when the U.S. imposed tariffs on a wide range of goods imported from China, including a 15% tariff on consumer electronics. Relying heavily on Chinese suppliers for critical components, the iPhone alone was projected to see an additional cost increase of […]
Lufthansa Airlines, one of Europe’s largest and most respected carriers, has built a global reputation for its premium services and vast network of international routes. In 2024, Lufthansa Group kicked off the year with significant developments in the aviation sector. The European Commission approved the group’s acquisition of a 41% stake in ITA Airways, Italy’s […]
Raiffeisen Bank International (RBI), an Austria-based leading European financial institution, faces a significant ethical and strategic dilemma due to its operations in Russia. Approximately 15% of the bank’s assets are tied to its Russian operations, making it one of the few Western banks with substantial exposure to the Russian market. Moreover, the Austrian lender generated […]
On May 19th, 2024, Red Lobster, a long-time favorite for American lovers of affordable seafood, filed for bankruptcy. The chain’s announcement came as a surprise to its customers but not to some who follow the company closely. The chain was founded in 1968 by Bill Darden and Charley Woodsby. Until 2023, when Red Lobster had […]
Sales figures are rising, and consumers are just “lovin’ it”. Everything runs smoothly until events occur over which you have no control. First there was Russia’s invasion of Ukraine in February 2022. And then came October 7, 2023, when the radical group Hamas sparked a brutal conflict between Israel and Palestine. Like many global consumer […]
For the longest time, the future seemed bright for Fisker, the US-Danish electric vehicle (EV) manufacturer. A series of models of all types and sizes were developed, production started, and big visions for global sales were announced. It appeared that Tesla would finally get a serious competitor. Internal projections showed that one million Fisker vehicles […]
With 10 million population, Sweden is a relatively small market for foreign entrants. But with an impressively high adoption rate of new technologies – 60 percent of all new vehicle sales in 2023 have been electric vehicles (EVs) or hybrids – it is not one to neglect for companies like Tesla. Besides, the Swedish market […]
During the last decades, US-based brand Victoria’s Secrets pursued an ambitious global strategy of worldwide expansion. Like many other consumer brands, Victoria’s secret eyed the world’s most populous market, China, and its growing middle class that had a similarly growing appetite for Western goods. However, the path was rockier than they thought. Victoria’s Secrets’ marketing […]
In 2011, the bankruptcy of Solyndra, a high-profile solar panel manufacturer based in Silicon Valley, marked a significant turn in the global solar industry. Founded in 2004, Solyndra aimed to innovate by building solar panels without polysilicon, which were more expensive to produce but potentially cheaper to install. This strategy initially seemed viable, especially given […]
After the fall of the Berlin Wall, Western European companies in industries from banking to retail experienced a golden age of opportunity and expansion. Without local companies in Eastern Europe capable of meeting market needs, rising incomes and increasing consumer demand presented unique prospects for new entrants. One such new entrant was Austrian supermarket chain […]
In February 2024, HSBC, the largest bank in Europe, declared its intention to sell its Armenian subsidiary, signaling the end of its nearly three-decade-long operations in Armenia. This move is notable considering the subsidiary’s robust performance by local standards, boasting $720 million in total assets and customer deposits amounting to approximately $500 million. Furthermore, HSBC […]