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 — One of China's biggest online retailers, JD.com Inc., has announced plans to develop drone aircraft capable of carrying a ton or more for long-distance deliveries.
JD.com said Monday it will test the drones on a network it is developing that will cover a northern Chinese province and carry consumer goods to remote areas and farm produce to cities.
The company says it made its first deliveries to customers using smaller drones in November. Other e-commerce brands including Amazon.com Inc. also are experimenting with drones for delivery.
With consumers tightening their belts in China, the battle between global fast fashion brands and local high street giants has intensified.
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
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.