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
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.
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