by Business of Fashion
This article was originally released by Business of Fashion.
It’s been over two years since Chinese authorities suddenly pulled the plug on the public listing for Alibaba-owned Ant Financial in an apparent retaliation to comments made by founder Jack Ma about government regulators. Criticism from Ma alerted them to the potential threat that tech giants pose to the state, triggering antitrust action against the company that has chipped away at its hold on China’s e-commerce market.
“I don’t think that there’ll be any real, substantive impact on the various merchants and brands,” said Franklin Chu, the US managing director of Azoya Group, a TP company that has helped MyTheresa, FeelUnique, and Lagardere Travel Retail with their e-commerce strategies in China. “I think it’s notable that… Tmall and Taobao are going to remain within Alibaba’s [core business unit].”
Read the full article at Business of Fashion.