The US-based fashion group announced on Thursday that it has begun a new strategic partnership with Alibaba’s Tmall. The company’s major brands will open flagships on the platform and gain insights on the Chinese market.
China’s second-largest e-commerce firm JD.com Inc has appointed Jason Hu, a former managing director at a Chinese private equity firm, as head of strategic investment to oversee deals both at home and overseas.
Alibaba Group chairman Jack Ma will step down from the Chinese firm on Tuesday, leaving his handpicked successor a daunting task of steering the $460bn firm when the market for its core e-tail business has slowed.
Alibaba Group Holding Ltd will buy e-commerce business Kaola from Chinese gaming company NetEase Inc for $2 billion, adding a platform that specializes in supplying luxury goods from abroad to Chinese consumers.
Chinese microblogging website Weibo has taken down an Instagram-like app just days after its launch and apologised after accusations of plagiarism about the app's logo, a stumble in efforts to find new sources of growth.
Hong Kong's political unrest is posing a dilemma for Alibaba Group on the timing of its planned $15 billion listing in the city, with sources saying the Chinese e-commerce company is now considering several timetables.