Chinese Shopping Agents Cash in on Russian Currency Slide

A Gucci wallet of unverified origin listed on Taobao | Source: Taobao

Chinese workers and overseas students in Russia have been snapping up goods at low prices caused by the steep fall in Russian rouble rates before brands can adjust them. These shopping agents, known as “daigou,” stockpile the products before selling them at a profit to buyers back home.

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Alibaba Goes Global to Top $5.7 Billion on Singles’ Day

Alibaba headquarters | Source: Reuters

Alibaba Group Holding Ltd. turned an obscure Chinese holiday into the country’s biggest shopping event. Now it’s aiming to take the success of Singles’ Day global by tapping foreign brands, including Calvin Klein and Blue Nile Inc.

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In China, Hermès Paces Itself

Inside the Hermès maison in Shanghai | Photo: Masao Nishikawa for Hermès

As Hermès opens its first ‘maison’ in China, BoF sits down with Weiming Cao, the company’s president for Greater China to discuss the new store, the company’s expansion strategy and building a multi-local luxury brand.

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