Amazon.com on Monday said it will open a pop-up store on Chinese e-commerce platform Pinduoduo. This store will run until the end of December and carry a selection of about 1,000 products from overseas. The move, initially reported by Reuters on Sunday, points to how Amazon's China-strategy is evolving. Earlier this year, it already decided to stop operating a marketplace
Singles’ Day records smashed in 2019
After 24 hours of intense buying and selling, along with weeks of advertising the promote the event, the Chinese market is calming down after another record-breaking Singles' Day. The Alibaba Group, once more, realised a higher sales turnover than in the previous year. The Chinese e-commerce platform sold goods worth 268 billion Yuan, $38.4 billion dollars. This is an
Turnover Singles Day to 37 billion dollars
Chinese marketplace Alibaba expects a great deal from this years' Singles Day. It predicted that 100 million more Chinese will place and online order compared to 2018. In the Chinese market, at least 200.000 brands are participating. Over a million of products are offered with a Singles Day-discount. In the first minute and eight seconds, the total turnover already crossed
Hugo Boss predicts sales recovery after Hong Kong hit
Luxury retailer Hugo Boss expects sales and operating profit to recover in the fourth quarter, reports Reuters. This is expected to be realised with more modern stores and growth in mainland China and e-commerce. Earlier, the German fashion house reported falling sales in the United States and Hong Kong. In October, Hugo Boss cut its 2019 earnings forecast. It reported
Alibaba Group Announces Q3 2019 Results
The Alibaba Group announced its financial results for the quarter ended September 30, 2019. The Chinese marketplace giant reported a better-than-expected 40% rise in revenue, powered by strong growth in its e-commerce and cloud computing businesses. Year-on-year, an adjusted 39% growth is reported. “Alibaba Group celebrated its 20th anniversary in September, marking an