Alibaba Group Holding Ltd and Swiss group Richemont will invest $1.1 billion in online luxury fashion retailer Farfetch Ltd and its new Chinese marketplace, as online demand for luxury goods booms in the Asian country.
Italian luxury brand Valentino and Internet giant Amazon have filed a joint lawsuit against New York-based Kaitlyn Pan Group for allegedly counterfeiting Valentino shoes and offering them for sale online.
Alibaba's 6.18 Mid-Year Shopping Festival (running on Tmall and Taobao) has seen a luxury surge. Almost double the number of luxury brands are participating compared to the last big event, 2019’s Singles Day in November
Chinese e-commerce giant Alibaba has launched a new luxury platform targeting younger consumers that also aims to help high-end brands shed excess inventory built up during the global coronavirus lockdown.