Yoox Net-A-Porter exits China – report
As luxury giant Richemont continues to seek a long-term solution for its underperforming Yoox Net-A-Porter (YNAP) business, a report has said that the online operation is exiting China to focus …
Alibaba
Richemont’s Online Luxury Retailer Net-A-Porter to Exit China
By Bloomberg Published Jun 14, 2024 Richemont’s luxury e-commerce platform Yoox Net-A-Porter is pulling out of China, as weak consumer spending puts increasing strain on high-end brands’ operations in the …
Luxury labels slash prices 50% to lure wary Chinese shoppers
By Bloomberg Published Jun 14, 2024 Some luxury labels are discounting their products to an unprecedented degree in China, reflecting a growing panic over unsold inventory as local consumers pull …
Chinese tech stars Alibaba, JD fuel convertible bond surge, likely ‘precursor’ to IPO rush
A recent boom in convertible bond sales is kindling hopes that Hong Kong’s capital market is warming up after a years-long chill, with Wall Street banks readying themselves to bask …
ByteDance said to cut 450 jobs in Indonesia after deal merging TikTok Shop with Tokopedia
The reductions, equal to about 9 per cent of employees at the Indonesian unit, will commence as soon as this month, according to people familiar with the matter. The final …
Chinese stocks poised for ‘another leg up’ after ‘healthy correction’: Goldman Sachs
Chinese stocks are set for another bounce following a recent consolidation, with a key meeting in Beijing next month set to inject more supportive measures into the market, according to …
Hong Kong stocks rise as investors bet on China’s economic rebound, Fed rate cut
Hong Kong stocks gained ahead of trade data that is likely to show more signs of recovery in the Chinese economy, while sentiment was also driven by hopes the US …
Alibaba courts CEOs to start live-streaming on Taobao during 618 shopping festival
Alibaba Group Holding is pushing CEOs to live-stream on its domestic e-commerce platform Taobao, as the tech giant ramps up efforts to win back consumers from rising rival Pinduoduo and …
Tech unicorn Zhipu AI joins China’s LLM price war amid new funding round
“We diligently iterated the core technology of our models and improved its efficiency,” Zhipu AI chief executive Zhang Peng said at the event. “This is not just a simple price …
Alibaba’s Hong Kong-listed shares could be ready for mainland buyers via Stock Connect by September 9, Morgan Stanley says
Alibaba could join the Stock Connect cross-border trading mechanism as early as September 9, after its dual-primary shares listing in Hong Kong is completed, according to Morgan Stanley. The overall …