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
Be ready for world’s most expensive wine
How good a glass of vintage wine that works out to be more than $8,000 a glass might taste? A bottle of Liber Pater’s 2015 vintage wine, set to be released in September, will come with a cool price tag of €30,000 (about A$48,000) per bottle. Sold in cases of six bottles, the rare cuvée … Continue reading Be ready for world’s most expensive wine
