NEWS
Amazon to unveil Australia ' s first robotic fulfilment centre
Construction of Amazon ’ s first robotic fulfilment centre in Western Sydney is underway and will be completed this year , according to the e-commerce giant .
Spanning four levels , the 200,000sqm site will be the largest warehouse in Australia and equipped with advanced Amazon robotics technology , making it possible for the centre to operate 24 hours a day and store about 50 per cent more items per square metre .
The robots will speed up processing order times by moving shelves to staff to reduce the time it takes for them to pack .
The new robotics facility will be Amazon ’ s second fulfilment centre in Western Sydney and will hold up to 11 million products .
Vicinity Centres releases its first Modern Slavery Statement
Property group Vicinity Centres has released its first Modern Slavery Statement which details how it will work to further embed ethical working standards across its business , helping to protect direct and indirect employees .
Vicinity CEO and managing director Grant Kelley said they have already taken proactive steps to identify , report and address modern slavery , with a focus on higher risk industries such as cleaning and security . Kelley said their Modern Slavery Statement captures this work to encourage continued progress . Last year , the company underwent a review on how to effectively manage modern slavery risks and environmental , social and governance ( ESG ) risks within the supply chain . The company developed a Responsible Procurement Action Plan that led to key initiatives to ensure ESG risks are managed within the business ’ supply chain .
Kering invests in resale platform Vestiaire Collective
French luxury goods business Kering has bought a 5 per cent stake in luxury fashion resale online platform Vestiaire Collective . According to the group , the investment is part of the € 178 million ( US $ 215 million ) financing round , valuing Vestiaire Collective at more than US $ 1 billion .
Kering owns brands including Gucci , Yves Saint Laurent and Bottega Venta .
US investment firm Tiger Global Management has also invested in Vestiaire , along with other existing shareholders , including Vogue publisher Condé Nast and French private equity firm Eurazeo .
“ There is a real shift happening that is going to shape the future of the fashion industry , and as a leader in the sector we want to shape that trend ,” Kering ’ s digital chief Grégory Boutté said .
Sales of secondhand items are forecast to rise from 21 per cent in 2021 to 27 per cent in 2023 , with the value of the sector estimated to be worth more than $ 60 billion by 2025 . Vestiaire Collective said its transaction volume doubled last year .
Fashion giant H & M halts orders in Myanmar
In response to the current political climate in Myanmar , Swedish fashion giant H & M has put its orders in the country on hold .
Recently , more than 50 demonstrators protesting against a military coup were killed by police and military forces , according to the United Nations .
“ Although we refrain from taking any immediate action regarding our long-term presence in the country , we have at this point paused placing new orders with our suppliers ,” said Serkan Tanka , H & M ’ s country manager in Myanmar , in an email .
“ This is due to practical difficulties and an unpredictable situation limiting our ability to operate in the country , including challenges related to manufacturing and infrastructure , raw material imports and transport of finished goods .”
H & M has been sourcing clothes from Myanmar for seven years , and currently uses 45 direct suppliers . Shops , factories and banks have shut down in Yangon city as part of the uprising against the military rulers .
Tanka said H & M is in discussion with UN agencies , diplomatic representatives , human rights experts , trade unions and other multinational companies regarding its future in Myanmar . �
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