In this page, we have gathered 10 latest news and headlines just happened within retail and eCommerce industry.
Top stories include the changes of LVMH, Burberry, Amazon and more.
British luxury brand Burberry partnered with Chinese Internet giant Tencent to open a social retail store in Shenzhen. The store will be powered by Tencent’s technologies and expected to open in the first half of 2020. It is the first step in Burberry’s strategy of blending social media and retailing to create digital and offline spaces for local consumers.
Fragrance and cosmetic company Coty Inc. announced today that it will purchase a 51% stake in Kylie Jenner’s beauty business — which includes Kylie Cosmetics and Kylie Skin—for $600 million. The deal values the business at nearly $1.2 billion — and it confirms Kylie Jenner as a billionaire.
Remrise, American sleep care brand, raised $8.2m in seed funding. Remrise provides a holistic sleep solution that combines rotational, personalized, plant-based formulas, and a dynamic suite of tools to improve sleep over time. The objective for this round is catering to different customer demands, seed varieties allowing them to customise their own formula for sleep solutions. Also, Remrise can embed personal recommendation functions on the website in the future.
LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury goods company, stated on Monday, that it had reached an agreement to buy the jeweller Tiffany & Company in a $16.2 billion deal, the largest ever in the luxury sector. The acquisition will give LVMH a bigger foothold in the United States, as well as helping Tiffany in Europe and China.
Pinduoduo has set up an in-app Amazon “pop-up store” allowing users to purchase imported goods ranging from skincare products to entertainment items. The platform will also offer discounts to users participating in the sales event, which runs from Monday to Saturday and the whole promotion would last until December.
Alibaba's stock popped nearly 7% in its Hong Kong debut, a strong showing for one of China's most prominent tech companies. Shares of the e-commerce firm closed up at 187.60 Hong Kong dollars ($23.97) on their first day of trading. The company's secondary listing could raise as much as $12.9 billion, making it the largest public offering so far this year.
JD Cloud Box will use EPAL products as the standard logistics carriers throughout the supply chain system. EPAL’s products will also be integrated into JD’s cross-border logistics operations. JD Cloud Box will also offer repair and leasing services for the pallets, and provide an online platform for real-time information and transactions relating to EPAL pallets in China.
Leading Chinese home appliance maker Gree Electric Appliances Inc. is offering 10 billion yuan ($1.42 billion) of discounts to attract buyers to its own e-commerce platforms. Gree launched a shopping event on Wednesday in response to customers’ demands after unfulfilled shopping expectations during the “Double 11” online sales festival Nov. 11 dominated by China’s major e-commerce platforms such as Alibaba Group’s Tmall and JD.com.
Discount online retailer Vipshop Holdings Ltd. said it will no longer use its own logistics unit for deliveries and instead outsource them to courier giant SF Holding Co. Ltd., amid pressure to cut costs in the competitive e-commerce market. Vipshop CEO Eric Shen believes the tie-up will boost the efficiency of current logistics operations and decrease fulfilment expenses.
Victoria Beckham Limited, which has not made a profit since it launched in 2008, reported a loss of £12.3m for 2018. Sales slipped 16% to £35m, amid weaker wholesale demand. Chairman Ralph Toledano said sales of clothing and accessories had levelled off after years of growth. Ralph stated that their goal is to reach profitability as soon as possible since the performance just as they had expected.