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.
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.
This week’s round-up of global markets fashion business news also features Haiti’s sourcing crisis, Brazilian jewellery giant Vivara and Dubai’s Ramadan shopping season.
This week’s round-up of global markets fashion business news also features Supreme’s long-awaited Shanghai flagship opening, India imposes MIP on undervalued imports of synthetic knitted fabric and striking Sri Lankan workers continue to protest.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.