The American online retailer has raised 165 million dollars in growth capital in order to pursue expansion plans, particularly in Asia, through the Chinese investor Adrian Cheng and private equity firm Apax Digital.
This week in Paris, Adrian Cheng announced the launch of a significant new investment fund to target what Cheng sees as the key consumer market of this century – Millennials and Generation Z in China. Call them BATers.
Hong Kong jeweller Chow Tai Took is expanding its new lower-priced chain to target younger shoppers in mainland China and will also close several signature stores by year-end. Most closures will be in tourist areas.
Hong Kong's highest profile officials and business people paid their respects to Cheng Yu-tung, whose passing marked the first of an aging generation of tycoons whose hold on the city's economy faces growing challenges.
Most global luxury brands in 2016 have a WeChat account, says a new report. While the number has grown considerably since 2014, the industry still has much work to do to reach and engage Chinese consumers.
Mining group Anglo American has retained De Beers as a prize asset after a radical overhaul in the belief that surging Chinese and Indian demand for diamonds will outstrip dwindling supply even after a 2015 crunch.