Alibaba and Tencent Spend Billions in Race to be China’s One-stop Online Shop

Alibaba headquarters in Hangzhou, China | Source: Reuters

Alibaba and Tencent spent more than $8 billion last year alone backing often strikingly similar ventures, as the Chinese Internet giants race to create online one-stop-shops to win the digital loyalty of a tenth of the world’s population.

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Chinese Market to Stabilize in 2015, LVMH’s Watch Chief Says

Bulgari store in Pudong, China | Source: Shutterstock

China’s luxury watch market will stabilize in 2015 as the industry recovers from last year’s decline in demand from high-end customers, according to Jean-Claude Biver, head of LVMH Moet Hennessy Louis Vuitton SA’s timepiece unit.

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Luxury Brands Gear Up for Chinese New Year Spend Abroad

Chinese shopper looking at bags | Source: Bloomberg

From Paris to New York, purveyors of luxury goods are teaching staff Mandarin, offering traditional New Year “hongbao” gifts and flocking to social media sites as well-heeled Chinese tourists pack their bags to ring in the Year of the Goat abroad.

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