Alibaba Group Holding Ltd and Swiss group Richemont will invest $1.1 billion in online luxury fashion retailer Farfetch Ltd and its new Chinese marketplace, as online demand for luxury goods booms in the Asian country.
China's move to suspend Ant Group's $37 billion listing is "necessary, reasonable and legal," given rising concerns over risks to financial stability, a Chinese newspaper cited an expert as saying on Wednesday.
As news continues to swirl around Alibaba’s interest in Farfetch, on Tuesday it emerged that investment company Eurazeo has completed the sale in the market in recent days of all its shares in the luxury e-tailer.
Alibaba Group Holding Ltd will kick off its mega-shopping extravaganza "Singles Day" early this year, a move that will likely see a big jump in its sales as the easing of China's pandemic drives an economic rebound.
The second hand luxury market is gaining momentum. Our LuxurynsightXFashionNetwork podcast guest Maximilian Bittner, CEO of Vestiaire Collective since last year, shares his perspective on the sector’s potential.
Over the weekend, crowds packed a former industrial warehouse in Beijing as the China Fashion Week got underway, with models strutting mask-less on a square runway and guests oblivious to social distancing norms.
Ant Group has won the final nod from China's top securities watchdog for the registration of its Shanghai offering, the regulator said on Wednesday, clearing the last regulatory hurdle for its $35 billion dual-listing.