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17th Sep 2019 .

Alibaba targets the luxury market

Alibaba has bought e-commerce business, Kaola, from NetEase for about $2 billion, adding a platform that specializes in supplying curated luxury goods from abroad to domestic consumers. Alibaba, which is looking for new revenue drivers as the e-commerce market at home matures, will also invest $700 million for a minority stake in Netease’s music streaming … Continue reading Alibaba targets the luxury market

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