The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
BEIJING, China — The founder and chief executive of Chinese e-commerce giant JD.com Inc, Richard Liu, was arrested in the US state of Minnesota on a charge of criminal sexual conduct and later released, a county sheriff's department jail roster showed.
The charge against Liu, 45, was made just before midnight local time on Friday, and he was released just after 4 pm on Saturday, according to the Hennepin County Sheriff website. It showed Liu was "released pending complaint."
JD.com in a statement on Sunday said Liu, whose Chinese name is Liu Qiangdong, was falsely accused.
"During a business trip to the United States, Mr. Liu was questioned by police in Minnesota in relation to an unsubstantiated accusation," the company said.
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"The local police quickly determined there was no substance to the claim against Mr Liu, and he was subsequently able to resume his business activities as originally planned," it said.
The company did not immediately provide further details, and Liu could not immediately be reached by Reuters.
By Cate Cadell, Kane Wu and by Tony Munroe; editor: Christopher Cushing.
With consumers tightening their belts in China, the battle between global fast fashion brands and local high street giants has intensified.
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The French beauty giant’s two latest deals are part of a wider M&A push by global players to capture a larger slice of the China market, targeting buzzy high-end brands that offer products with distinctive Chinese elements.
Post-Covid spend by US tourists in Europe has surged past 2019 levels. Chinese travellers, by contrast, have largely favoured domestic and regional destinations like Hong Kong, Singapore and Japan.