Alibaba Group Holding Ltd said it will invest 200 billion yuan ($28 billion) in its cloud infrastructure over three years, following a boom in demand for business software as the coronavirus outbreak peaked in China.
E-commerce and online groceries faced disruption to their warehouse and delivery operations in India on Monday as dozens of cities including New Delhi went into a lockdown to tackle the spread of coronavirus.
China’s JD.com Inc on Monday forecast an at least 10% rise in revenue for the coronavirus-hit first quarter, benefiting from partnerships with supermarkets as shoppers chose to stay indoors due to fears of infection.
Sebastien Badault, Alibaba's international director for luxury & fashion, talked with FashionNetwork.com about Luxury Pavilion, Alibaba’s vast range of low-cost fashion, best-practice issues and the coronavirus’ impact.
The global fashion market should grow by 64 billion dollars in five years, according to Kantar. Approximately half of that will come from five major players: Fast Retailing, Inditex, H&M, TJX and Old Navy.
New lines of Coach handbags helped Tapestry beat holiday quarter expectations on Thursday, sending its shares up 6%, even as the fashion house warned the coronavirus outbreak could dent its sales by up to $250 million.