However, Kering said it had seen “encouraging signs” in mainland China in March with the reopening of most of its stores. The stock fell 6% in early trading on Wednesday and has now fallen 21%…
BUSINESS
China’s Crypto Currency Currently the First, but Fears Remain
There was a biggie last week with the leaking of China’s much anticipated Central Bank Digital Currency (CBDC). The leak revealed extensive details of how the accompanying app works, a look at the … (…
Is WeChat losing its appeal to luxury brand marketers?
“WeChat has slowly moved from being merely an information outlet towards a full service platform. It’s a pool the brands are trying to channel all their customers into,” said Kai. Pablo Mauron, … ( read…
Gucci sales hit hard by start of virus outbreak in China
Gucci sales were hit hard at the beginning of the coronavirus crisis due to its strong reliance on Chinese customers, owner Kering said on Tuesday, though it added that the Italian brand should be ……
Alibaba’s Green Code Let Shops Identity Risk-free Customers in China
Louis Vuitton saw a 50 percent jump in sales in the past three weeks compared to the same period last year, according to sources, and Hermès hauled in $2.7 million on the reopening day of…
Gucci Owner Kering Urges Cautious Assessment of China Rebound
French fashion company Kering gave a cautious assessment of rebounding luxury sales in China following a “deep impact” for its flagship brand Gucci in the first quarter. ( read original story …)
Tapestry Focuses on Global Growth as It Reopens Stores in China
Like the rest of the retail industry, Tapestry (NYSE:TPR), the parent company of luxury goods brands Coach, Kate Spade, and Stuart Weitzman, has had to close stores and shore up cash as it attempts to…
Kingsoft Cloud Seeks U.S. Investment From IPO
Kingsoft Cloud Holdings has filed for a U.S. IPO. The firm provides a suite of Internet and cloud infrastructure services to enterprises in Asia. The firm has g … ( read original story …)
Alibaba’s $28 billion investment in cloud infrastructure will help it compete with US tech giants outside of China
Alibaba may invest $28 billion to build out cloud infrastructure, helping Alibaba Cloud compete against US tech giants and fuel geopolitical tensions. ( read original story …)
Shanghai bets on technology as its new growth engine, shortlists 1,000 start-ups to list on Star Market
Star Market’s stellar IPO momentum to extend into 2020 “Shanghai aims to drive our innovative capabilities … hub looked to tap foreign investment and bolster exports following the signing of a phase … ( read…
What Is China Pioneer Pharma Holdings’s (HKG:1345) P/E Ratio After Its Share Price Rocketed?
China Pioneer Pharma Holdings (HKG:1345) shareholders are no doubt pleased to see that the share price has bounced … ( read original story …)
DForce hacker returns $25m in ‘stolen’ crypto-currencies
A mystery hacker allegedly stole $25m (£20m) in crypto-currencies – and then returned the funds two days later. Records show that funds in a variety ofere withdrawn from the DForce platform based in … (…
Trump’s Attacks on the World Health Organization Are Hurting Its Brand
38 percent of voters blame Beijing for the spread of coronavirus in the United States, a new high. President Donald Trump’s repeated attacks on how the World Health Organization and China handled the … (…
