Chinese e-commerce giant Alibaba saw its turnover grow by 41 % in the past quarter. Analysts are still worried, as this is the lowest turnover increase in three years' time.
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Luxury group LVMH, known as the parent company of Louis Vuitton, Moët & Chandon and others, has had a record year: profits went up by as much as 21% and exceeded the record height of 10 billion euros. How? By embracing exclusivity.
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The award-winning book, written by RetailDetail's very own Jorg Snoeck and Pauline Neerman, continues its conquest. Following the successes of the Dutch, English and French version, there is now also a translation in Chinese.
Chinese e-commerce giant JD.com needs to regain investor confidence and announced a major restructuring. In addition, the European expansion plans are also threatened: the future of a planned office in Germany has become very unsure.
Today, 42% of all global e-commerce is happening in China, so it is already moving onto the next chapter: from people’s back pockets into their bodies. Huge leaps forward are being made in the fields of facial recognition, biohacking and robotization.
Spanish department store chain El Corte Inglés has entered into a cooperation agreement with Chinese online giant Alibaba. The partnership covers e-commerce, physical retail, cloud services and payment systems.
Fashion chain Esprit has announced a worldwide restructuring to keep the company competitive. Almost half of the staff will be terminated and many outlets will be closed around the globe.
Alibaba has generated a 213.5 billion yuan (27 billion euro) turnover during the 11.11 Global Shopping Festival on 11 November. 180,000 brands took part in this year's sales festival in honour of Singles' Day.
French luxury brand Hermès has reached a turnover growth of almost 10 % in the third quarter of its fiscal year, mainly thanks to the United States and Asia. China is doing particularly well: the trade war between Washington and Beijing seems not to affect the French at all.
On 11 November China will be celebrating Singles' Day again, the biggest shopping frenzy in the world. Black Friday, Cyber Monday and Amazon Prime Day are dwarfed by the day when Chinese shopping fans celebrate themselves.
Swiss luxury group Richemont is going to offer its products on the booming Chinese market through a joint venture with Alibaba. Subsidiary Yoox Net-a-porter gains access to a billion consumers this way, while Alibaba basks in the luxurious glow of the Swiss.
British fashion chain New Look is going through a difficult time: after closing its 130 stores in China, now its stores in Belgium, France and Portugal may follow suit.
The ties between China and Africa are becoming ever closer. Next up is the Nigerian Mall for Africa, which now also offers Chinese products to 17 African countries, expanding from its current British and American range.
Jack Ma, founder of Chinese e-commerce giant Alibaba, is withdrawing his promise of creating a million jobs in the United States. Ma is doing this to respond to the escalating trade war between China and the US, which is entering a new phase next week.
After making his company one of the largest retailers in the world, Alibaba founder Jack Ma will step down on the 20th anniversary of his company next year. He wants to dedicate himself to improving education and has appointed his pupil Daniel Zhang as his successor.
Uterqüe, a subsidiary of Spanish fashion group Inditex, has started its own shop on Chinese e-commerce platform Tmall. The accessory and fashion label also wants to open physical stores in China later on.