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.
HANGZHOU, China — Chinese e-commerce giant Alibaba Group Holding Ltd said on Tuesday it agreed to buy a controlling stake in online retailer Lazada for about $1 billion to expand its platform into Southeast Asia.
Alibaba would invest about $500 million in newly issued Lazada shares and acquire shares from shareholders of Lazada for a total of about $1 billion.
Lazada operates in Singapore, Malaysia, Indonesia, the Philippines, Thailand and Vietnam.
In a separate announcement, Britain's biggest supermarket operator Tesco Plc said it agreed to sell an 8.6 percent stake in Lazada to Alibaba for $129 million.
By Rama Venkat Raman; editor: Gopakumar Warrier.
Fast-growing start-ups like Hettas, Saysh and Moolah Kicks created sneakers designed specifically for active women. The sportswear giants are watching closely.
The companies agreed to cap credit-card swipe fees in one of the most significant antitrust settlements ever, following a legal fight that spanned almost two decades.
In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.
The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.