The China Edit is a weekly curation of the most important fashion business news and analysis from and about the world’s largest luxury market.
NEW YORK, United States — CJ Chu is a retailer’s nightmare. The 24-year-old associate for a private-equity firm does “99 percent” of his shopping online — even toothpaste. He’d rather buy groceries on the Web than walk to the supermarket.
In the age of e-commerce, physical flagships are still critical to engaging male luxury consumers, though market leaders are integrating their online and offline presence to create new digitally enhanced stores.
NEW DELHI, India — Prime Minister Narendra Modi's government could allow foreign direct investment in India's e-commerce sector as early as next month, paving the way for global online retailers such as Amazon to expand their business, four people with knowledge of the matter told Reuters.
MUMBAI, India — With Amazon.com Inc ramping up its presence in India, two local online retailers are preparing for tougher competition with separate deals worth a combined $400 million set to be finalised this week.
SAN FRANCISCO, United States — EBay Inc. is rolling out websites tailored for shoppers in Latin American countries, seeking to accelerate sales at its online marketplace in the fast-growing region.
SAN JOSE, United States — EBay Inc.’s move to bring home part of its international cash hoard opens the door for it to do multibillion-dollar acquisitions, just as the company needs to rev up growth.
HONG KONG, China — Alibaba Holdings Inc is in talks with major shareholders to reclaim a stake in fast-growing online-payments affiliate Alipay, The Wall Street Journal reported on Wednesday, citing people familiar with the matter.
HONG KONG, China — Tencent Holdings Ltd. fell to a three-month low in Hong Kong amid growing concern that Internet companies are overvalued.
SAN JOSE, United States — The world’s biggest online marketplace said sales in the current period will be $4.33 billion to $4.43 billion. Profit before certain items will be 67 cents to 69 cents a share. Analysts on average projected revenue of $4.4 billion and profit of 70 cents, according to data compiled by Bloomberg.
STOCKHOLM, Sweden — Nelly, the Swedish online fashion retailer with 1,000 brands, said sales of its own labels will grow to account for as much as 40 percent of total revenue as the company expands outside its European main markets.
SAN FRANCISCO, United States — Amazon.com Inc. unveiled a new device that customers can use to add items to a shopping list by scanning barcodes or speaking the name of the product, in the e- commerce company’s latest push into consumer hardware.
HONG KONG, China — Alibaba, the world's biggest e-commerce company, changed how China shops. Now the man driving its blockbuster U.S. stock sale wants to transform the rest of the country's services industry, adding new users to the giant's 300 million customers.