Consumer bodies from Belgium, France, Italy, the Netherlands, Portugal and Spain on Friday urged their national consumer protection agencies to act against Alibaba's online portal for allegedly setting unfair terms.
The ranking of the 75 most valuable global retail brands, led by Amazon, has seen Nike rise to the top of the apparel sector whilst Zara and H&M were impacted by rising concerns over their environmental impact.
Chinese e-commerce leader Alibaba's quarterly revenue beat analyst estimates on Wednesday, indicating that the Sino-US trade tiff and a slowing domestic economy were having little impact on the bottom line.
The YNAP buy lit a rocket under Richemont sales last year, but it dented profitability. Yet the group remains strong with jewellery and watches buoyant while Chloé and Dunhill have seen good reactions to new products.
Digital transformation, changing consumer behaviour and fierce competition for the best retail locations are driving up costs in the luxury industry according to a study published by the American analytics firm.
Amazon has almost doubled its brand value to $316 billion as it expands in areas like smart speakers, while China's Alibaba is now the world's second most valuable retail brand, a survey showed on Tuesday.
Chinese e-commerce firm JD.com’s revenues grew at their slowest pace on record in the first quarter as China’s tech giants start to tap out their existing user bases, though its 21% expansion marginally beat forecasts.