Alibaba Group Holding is pushing millennials, typically defined as those born in the early 1980s to mid-1990s, to take key roles in the country’s largest online market, as the Hangzhou-based e-commerce giant repositions itself to fend off fierce competition from rivals such as PDD Holdings. The company’s Taobao and Tmall Group has promoted six young … Read more
American e-commerce leader Amazon.com has introduced a slew of initiatives as part of a renewed strategy to help Chinese merchants sell abroad, at a time when China-founded rivals like Shein and Temu are gaining traction. The moves include an innovation centre in the southern tech hub of Shenzhen, the first in the Asia-Pacific region, that … Read more
An investor group reportedly offered $5.8 billion to buy Macy’s and take the major American department store chain private. Real-estate focused investing firm Arkhouse and Brigade Capital Management, an asset management company, submitted a proposal to acquire the Macy’s stock they don’t already own on Dec. 1, people familiar with the matter told The Wall … Read more
Kuaishou Technology, China’s second-largest short video platform after ByteDance’s Douyin, has launched an “online festival” to encourage home sales amid a deep property market slump in the country. The one-month campaign, called “national home-buying season”, started on Wednesday and will run through January 5, during which the platform will promote star agents, bargain prices and … Read more
