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 — Chinese online retail firm JD.com Inc said on Tuesday it has led an investment in Vietnamese e-commerce firm Tiki.vn, expanding its Southeast Asia business amid competition from Alibaba Group Holding Ltd and Amazon.com Inc.
JD.com co-led the financing with Vietnamese entertainment and social media firm VNG Corp, which is an existing investor, it said in a statement on Tuesday.
The firm did not disclose the size of the funding but said that JD.com will become one of Tiki's largest shareholders alongside VNG following the deal.
By Cate Cadell; Editor: Edwina Gibbs
In the key China market, sports stars are an increasingly popular choice for luxury brands aiming to broaden their appeal while limiting their exposure to scandal-prone entertainers.
Alibaba’s shopping holiday has lost some of its oomph, but remains a potent force for many brands. That, plus what else to watch for in the coming week.
At the latest edition of China’s top fashion week, brands adapted their designs for a more value-minded shopper as retail buyers prepared for a softer local market.
As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.