Chinese retailer Alibaba Group Holding Ltd’s sales for its 24-hour Singles’ Day shopping blitz hit a record $38.4 billion, more than U.S. rival Amazon.com Inc’s haul last quarter from online store sales.
Few people are better placed to suggest how fashion, luxury and beauty brands can reach Chinese consumers than Christina Fontana, director of fashion & luxury Europe for Alibaba, the world's biggest e-commerce company.
Alibaba Group Holding Ltd will buy e-commerce business Kaola from Chinese gaming company NetEase Inc for $2 billion, adding a platform that specializes in supplying luxury goods from abroad to Chinese consumers.
The French luxury house has launched its fragrance and beauty offering on Chinese e-commerce platform Tmall, the first time that consumers in the country can purchase Chanel products online outside of its official site.
Just a few days after JD.com reported record-breaking sales for the mid year 6.18 shopping Festival, rival Alibaba Group has also said that it shattered multiple records for the event with luxe fashion strong