De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Hangzhou, China
Retail
Alibaba Reports $56 Billion Sales as Singles' Day Gets Into Full Swing
The four-day sale has so far brought sellers 16 times as many orders by value than Amazon's global Prime Day last month.
Alibaba Reports $56 Billion Sales as Singles' Day Gets Into Full Swing
The four-day sale has so far brought sellers 16 times as many orders by value than Amazon's global Prime Day last month.
China
Alibaba Beats Quarterly Sales Estimates
The group's core e-commerce business continues to grow post-pandemic.
Alibaba Beats Quarterly Sales Estimates
The group's core e-commerce business continues to grow post-pandemic.
Retail
Alibaba Launches 'Outlet' Platform to Shift Luxury Overstock
China's biggest e-commerce company said it was piloting the new Luxury Soho platform to run alongside its Tmall Luxury Pavilion flagship site.
Alibaba Launches 'Outlet' Platform to Shift Luxury Overstock
China's biggest e-commerce company said it was piloting the new Luxury Soho platform to run alongside its Tmall Luxury Pavilion flagship site.
Global Markets
Alibaba's AliExpress Warns of Possible Coronavirus Delays
Alibaba Group warned in February of a drop in revenue as the coronavirus hit supply chains and deliveries.
Alibaba's AliExpress Warns of Possible Coronavirus Delays
Alibaba Group warned in February of a drop in revenue as the coronavirus hit supply chains and deliveries.
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Global Markets
Alibaba Sales Beat Estimates
The e-commerce giant's record-breaking annual Singles' Day shopping blitz drove strong quarterly results.
Alibaba Sales Beat Estimates
The e-commerce giant's record-breaking annual Singles' Day shopping blitz drove strong quarterly results.
Global Markets
Report: Alibaba Undercuts Amazon to Woo Wary European Brands
China's e-commerce giant is targeting key markets such as Spain with reduced monthly fees and commission for vendors, according to sources familiar with the matter.
Report: Alibaba Undercuts Amazon to Woo Wary European Brands
China's e-commerce giant is targeting key markets such as Spain with reduced monthly fees and commission for vendors, according to sources familiar with the matter.
Financial Markets
Alibaba Raises Additional Funding in Hong Kong Listing
The e-commerce giant raised an additional HK$13.17 billion after its landmark listing last month, the city's largest share sale in nine years.
Alibaba Raises Additional Funding in Hong Kong Listing
The e-commerce giant raised an additional HK$13.17 billion after its landmark listing last month, the city's largest share sale in nine years.
Luxury
Alibaba’s Luxury Venture With Richemont Goes Online in China
The joint venture will operate under Richemont's Net-a-Porter brand, and present 130 brands in one location on the Tmall e-commerce site.
Alibaba’s Luxury Venture With Richemont Goes Online in China
The joint venture will operate under Richemont's Net-a-Porter brand, and present 130 brands in one location on the Tmall e-commerce site.
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Technology
Alibaba Leads Investment in Taiwanese Augmented Reality Start-Up
Alibaba will use Perfect Corp’s virtual try-on technology when selling products like lipstick and eyeliner on its Taobao and Tmall online shopping platforms.
Alibaba Leads Investment in Taiwanese Augmented Reality Start-Up
Alibaba will use Perfect Corp’s virtual try-on technology when selling products like lipstick and eyeliner on its Taobao and Tmall online shopping platforms.
News & Analysis
Jack Ma Ends 20-Year Reign Over Alibaba
After amassing a $41.8 billion fortune, the former English teacher steps down as executive chairman of China’s largest company on his 55th birthday.
Jack Ma Ends 20-Year Reign Over Alibaba
After amassing a $41.8 billion fortune, the former English teacher steps down as executive chairman of China’s largest company on his 55th birthday.
News & Analysis
Alibaba Strikes $2 Billion Deal for NetEase-Owned Kaola Online Mall
The acquisition marks a rare partnership between two of China’s largest internet giants.
Alibaba Strikes $2 Billion Deal for NetEase-Owned Kaola Online Mall
The acquisition marks a rare partnership between two of China’s largest internet giants.
News & Analysis
Report: Alibaba Postpones Hong Kong Listing Amid Protests
The e-commerce giant could launch the deal as early as October, depending on whether political tensions ease and market conditions improve, according to a source familiar with the matter.
Report: Alibaba Postpones Hong Kong Listing Amid Protests
The e-commerce giant could launch the deal as early as October, depending on whether political tensions ease and market conditions improve, according to a source familiar with the matter.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.