By Jing Xuan Teng, with Peter Catterall in Beijing SHANGHAI, March 22, 2024 (AFP) – With jaw-droppingly low prices and a seemingly endless selection of trendy clothes, Shein has taken the world by storm — and found itself in the crosshairs of French lawmakers who want to curb the excesses of fast fashion. Customers love the Chinese-founded firm’s massive catalogue of ultra-cheap items, from $8 sundresses to 48-cent bracelets, at a time when inflation has […]
Tag: ecommerce
Jeff Bezos sells off $2 bn in Amazon shares
WASHINGTON, Feb 10, 2024 (AFP) – Amazon founder Jeff Bezos has sold off about $2 billion in shares of the online distribution giant, according to recent stock market filings. Bezos sold on Wednesday and Thursday some 12 million Amazon shares, at between $168-171 per share, according to documents sent to stock market regulatory authorities Friday. A previous stock market document, out Wednesday, reported his intention to sell, next July, 50 million shares of the group […]
Alibaba takes stake in Chinese video platform Bilibili
BEIJING, China (AFP) — Alibaba has bought an eight percent stake in Chinese online video sharing and entertainment service Bilibili for an undisclosed amount, state news agency Xinhua reported. Alibaba’s e-commerce arm Taobao will reportedly own 24 million shares in Nasdaq-listed Bilibili, which claims tens of millions of regular users, mainly among young anime, comic and computer game fans in China. Chen Rui, Bilibili’s CEO and chairman, said he hoped the collaboration would help Bilibili […]
Chinese billionaire arrested in US over sexual misconduct allegations
WASHINGTON, United States (AFP) — Chinese e-commerce billionaire Liu Qiangdong — also known as Richard Liu — was briefly arrested in the midwestern US city of Minneapolis over allegations of criminal sexual conduct, authorities said. Records from Hennepin County Jail showed Liu, founder and CEO of Chinese online retail giant JD.com, was arrested over the misconduct allegations late Friday night and released Saturday afternoon. The Minneapolis Police Department said the investigation remained active and […]
