The five biggest retail technology news stories of the week

The weekend is almost upon us, so let’s kick back and reflect on another eventful week for the retail systems space. Here's your briefing on the biggest stories from the past few days, including Klarna/HERO, Flipkart and Nordstrom/Asos.

1. FinTech unicorn Klarna snaps up social shopping venture HERO

Buy now pay later big hitter Klarna has acquired social shopping platform HERO. Terms of the deal were not disclosed.

In a press release, Klarna says it will “introduce HERO to its 250,000 retail partners, allowing their in-store teams to become content creators instantly, offering reviews, real-time advice and richer, more engaging and informative content around products to bring the best of in-store shopping to the online experience for consumers.”

HERO, based in London and New York, was founded in 2015 and its client roster includes Levi, rag & bone, Chloé, and Harvey Nichols.

It also shares a number of retail partners with Klarna’s network, such as Nike and JD Sports. All 100+ HERO employees will join Klarna.

2. Tony Hoggett quits Tesco for Amazon physical stores role

Tony Hoggett is stepping down from the role of Tesco Chief Strategy and Innovation Officer to head up Amazon’s international stores arm.

He will move to Amazon’s HQ in Seattle, Washington and become Senior VP of Physical Stores in January 2022.

A blow for @Tesco and major coup for @amazon, highlighting their physical retail ambitions. https://t.co/zoO0qUkdsi
— Scott Thompson (@ScottThomps74) July 10, 2021

3. Nordstrom inks 20-something centric omnichannel deal with Asos

Asos has formed a joint venture with US retailer Nordstrom.

The latter will invest for a minority stake in the Topshop, Topman, Miss Selfridge and HIIT brands which Asos acquired out of bankruptcy this year.

Financial terms of the deal were not disclosed.

It’s part of a move by Nordstrom to make its physical and online stores work more seamlessly together.

Asos, meanwhile, gets a physical foothold in North America.

We're excited to announce a game-changing joint-venture with @Nordstrom, which sees it taking a minority stake in our iconic Topshop brands - bringing together two highly complementary retail models to deliver for 20-somethings across North America👉https://t.co/4cgOQutvFE pic.twitter.com/V7RLcHg3ar
— ASOS news (@ASOS_news) July 12, 2021

4. Walmart brings Symbotic automation system to supply chain

Walmart has announced a supply chain automation partnership with Symbotic.

The two will deploy robotics tech at 25 regional Walmart distribution centres, with roll-out set to take several years to complete.

This builds on a 2017 pilot that brought Symbotic’s autonomous robotics platform to Walmart’s Brooksville, Florida distribution centre in a bid to increase freight sorting, stocking and unloading.

We’re partnering with industry leader @SymboticTweet to install new technology in 25 of our regional distribution centers as we work to transform our supply chain and revolutionize how we move products to stores. https://t.co/EbnOI1ng5x pic.twitter.com/0bppNHg8vJ
— Walmart Inc. (@WalmartInc) July 14, 2021

5. Flipkart raises $3.6bn in funding and eyes IPO

Indian e-commerce giant Flipkart has raised $3.6 billion at a post-money valuation of $37.6 billion.

The was co-led by main owner Walmart, GIC, Canada Pension Plan Investment Board (CPP Investments) and SoftBank Vision Fund 2, and comes ahead of an initial public offering (IPO), which is set for early next year.