Global Markets

The e-tailer, which is part of Richemont-owned Yoox Net-a-Porter Group (YNAP), is expanding its operating model to incorporate a marketplace platform to sit alongside its existing wholesale business.

TikTok owner ByteDance saw its total revenue grow by 70 percent year-on-year to around $58 billion in 2021, according to two people familiar with the matter, slower growth than a year earlier as China tightens its regulation of big tech companies.

The up-and-coming Beijing-based beauty retailer has secured $200 million in recent Series C and D rounds of funding, led by QY Capital and General Allantic.

Domestic sales of luxury goods reached 471 billion yuan ($74.24 billion), a near doubling in two years, according to Bain & Company’s annual "China Luxury Report 2021".

Puma said sales reached a record €6.8 billion ($7.7 billion) in 2021, up 32 percent on a constant-currency basis.

British clothing retailer Primark will not raise prices for its Spring/Summer range despite inflationary cost pressures, the finance chief of its owner Associated British Foods said on Thursday.

The online retailer is making another push to grow its fashion business, announcing on Thursday it will open its first-ever apparel store this year, with a tech twist.

The e-commerce firm, which is backed by Chinese internet giant Alibaba, plans a dual-listing IPO in New York or London when its income from foreign sales reaches 30 to 35 percent of total revenue.