Don’t let diplomatic and trade tensions get in the way of bagging a deal. That’s the approach China’s JD.com and Cettire are taking in the partnership they inked on Monday. The tie-up will spearhead the Australian online retailer’s plan to enter what Bain & Co expects will be the world’s biggest luxury market by 2025. Shareholders added as much as 18% to its value in early trading.
they inked on Monday. The tie-up will spearhead the Australian online retailer’s plan to enter what Bain & Co expects will be the world’s biggest luxury market by 2025. Shareholders added as much as 18% to its value in early trading.
It’s a bold move: Granted, A$1 billion Cettire just sells other companies’ upmarket products, from Valentino handbags to Alexander McQueen shoes and clothing. So it won’t come under the same pressure as exporters of Aussie wine, coal, rock lobster and other goods. Beijing effectively banned these and other imports in 2020, costingin lost exports in the first nine months of 2021, per the Australia-China Relations Institute.
But politicians are still waging a war of words: Australia’s Defence Minister Peter Dutton told the Sydney Morning Herald on Monday that the country and its allies will if they don’t stand up to China in the South China Sea. The Cettire-JD.com relationship could yet get tricky.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Toyota takes a page from Ford and attempts luxury with its new Tundra Capstone truckToyota embodies themes of toughness and luxury in the Capstone edition of the Tundra.
Lire la suite »
$16 million in fake luxury goods seized from Georgia entrepreneurs after customs stingThe fake merchandise was seized en route from Chihuahua, Mexico, to a residence in Lawrenceville, Georgia.
Lire la suite »
This New Book Shows How Louis Vuitton Crafts Some of the World’s Great Luxury GoodsTake a look inside the beautifully photographed 'Louis Vuitton Manufactures.'
Lire la suite »
Armed Raids, Crooked Cops and the Wild Battle Over a Breathtaking American Hotel in TulumImpresarios are at war over one of the most gorgeous beachfront properties in the luxury tourist resort town and celeb hang-out of Tulum.
Lire la suite »
China says U.S. tariff extension on solar products hurts new energy tradeA U.S. extension of tariffs on solar products distorts international trade and hinders the development of clean, low-emission energy, China's commerce ministry said on Saturday.
Lire la suite »
Japan stocks poised for lower start; mainland China markets set to reopen after Lunar New Year holidaysMainland China markets are set to return to trade on Monday after being closed last week for the Lunar New Year holidays.
Lire la suite »