PARIS — French online retailer L’Exception has been acquired by Hong Kong-based asset management firm AA Investments, joining a rapidly growing group that also includes French fashion and home decor e-tailer Smallable and sneaker resale site Wethenew. Founder Régis Pennel revealed the deal in a LinkedIn post Tuesday, adding that he was stepping down with … Read more
Alibaba Group Holding is taking a 9.3 billion yuan (US$1.3 billion) loss in its sale of Intime, one of China’s leading department store operators, as the e-commerce giant walks away from offline retailing to focus on its core businesses. The company is selling its entire stake in the retail chain, in which it first invested … Read more
Amazon.com has asked some Chinese cross-border merchants to stop offering goods at a cheaper price on rival platform Temu, according to several sellers, amid intensifying competition from the aggressive budget retailer owned by mainland e-commerce giant PDD Holdings. The local office of US-based Amazon recently informed the managers of some top-selling Chinese brands that they … Read more
China’s super app WeChat, owned by Tencent Holdings, has added a gift-giving feature to its embedded e-commerce platform ahead of Christmas, allowing users to send presents to their friends. Shoppers can search for products by keywords. According to the official guidelines, all gifts available are priced 10,000 yuan (US$1,375) or under, and they exclude jewellery … Read more
An Amazon delivery truck passes people holding signs and marching during a strike by Teamsters union members at an Amazon facility in Alpharetta, Georgia, Dec. 19, 2024. Elijah Nouvelage | Reuters Amazon workers across seven facilities in New York, Georgia, California and Illinois went on strike Thursday to lobby for better benefits, higher wages and … Read more
Amazon workers affiliated with the Teamsters union continued a strike Friday at seven of the company’s delivery hubs just days before Christmas. At midnight on Saturday, workers at a prominent unionized warehouse in New York will also join, the Teamsters said. However, the union has not indicated how many employees were participating in any of the walkouts … Read more
China’s tax authority on Friday published a draft regulation that would require the operators of e-commerce, short-video and social media platforms to report the income of merchants and influencers. Under the current draft, which is soliciting public feedback until January 19, internet platform operators must report the identity, income and other tax-related information about revenue-generating … Read more
US retail giant Walmart is teaming up with Chinese on-demand delivery giant Meituan, promising speedy door-to-door service on the mainland, four months after it sold its stake JD.com, winding down the long-time partnership. Walmart’s China unit said on its official WeChat account that all of its stores across the country are now listed on Meituan’s … Read more
Alibaba Group Holding is expected to sell its department store chain Intime Retail (Group) to Chinese apparel company Youngor Fashion as China’s e-commerce giant walks away from offline retailing, according to people familiar with the matter. The two sides are expected to announce the deal this week, said one source, who declined to be named. … Read more
Chinese fast-fashion retailer Urban Revivo, which outperforms Zara and H&M on its home turf, had the official launch of its largest overseas store on Thursday in Bangkok as it continues an international push that also includes coming stores in London and New York. “We strive to become the world’s most influential fashion brand, whether in … Read more
