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.
TikTok’s parent company ByteDance has denied it is in preliminary talks about listing Douyin, the sister version of TikTok in China, on the New York Stock Exchange (NYSE), according to China stated-owned media Global Times and business media Jiemian.
The company responded to both publications, saying earlier reports quoting people familiar with the matter that the company was seeking to go public on the NYSE and that ByteDance’s investors were supportive of the move, were false. Reuters has reported that the denials refer to a TikTok listing.
Some analysts believe it is still risky to make such a big move in the US, though the US Justice Department asked two federal appeals courts earlier this month to put on hold government appeals on lower courts’ rulings blocking restrictions the Trump administration sought against the app.
According to separate reports from Reuters and China tech media 36Kr last November, the Beijing-based company is planning to list Douyin in Hong Kong, along with its news aggregation app Toutiao and video platform Watermelon Video.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.