Under terms of the agreement, Saison, a privately owned retail conglomerate, will have the exclusive right to operate the Inter-Continental and Forum brands in Japan.

Olympus Sports was owned by Sears, the retail conglomerate.

Morrisons had acquired Safeway in 2004 creating a 130,000 people strong retail conglomerate in the UK.

The most cautionary example is Federated Department Stores, the retail conglomerate that runs macys.com and bloomingdales.com.

Their local targets are smaller companies and the most likely target, after Poland, is the state-owned Czech refining and retail conglomerate, Unipetrol.

Federated Department Stores, the retail conglomerate that runs Macys.com and Bloomingdales.com, is estimating a staggering $100 million operating loss for its online division this year.

Not only has this chain been broken, but also major manufacturers and retail conglomerates claim not to know how and by whom the garments they produce and sell are made.

Today, Lippo is a huge property and retail conglomerate that has businesses in Indonesia, Singapore, Hong Kong and China.

"The retail conglomerates have proven to be abysmal failures in almost every case."