General
Chinese software company AiFi has opened the world' largest autonomous supermarket in Shanghai. AiFi has no ambitions as a retailer but wants to demonstrate its technology to interested parties. One of those parties has already jumped at the chance: Dutch company Wundermart, which is also active in Brussels. Albert Heijn also makes use of the technology.
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Following Amazon, Alibaba has also announced record sales: in the past quarter, e-commerce sales grew by 38 per cent, thanks to the Singles Day shopping frenzy. However, the Chinese government casts a dark shadow.
Fashion
Marks & Spencer is one of the first major brands to join the movement that is calling to end forced labour in the cotton and garment industry in the region of Xinjiang, China.
Electronics
Will Philips' Senseo and Airfryer appliances fall into Chinese hands? Three Chinese buyers are dominating the sale of Philips' domestic appliances department. However, other parties have also shown interest.
Ant Group, Alibaba's sister company, was nearly carved up by the Chinese authorities: the creator of AliPay is forced to restructure its operations. China is the first country to do what experts have been advocating for years: curbing the power of technology giants.
The Chinese government is opening an investigation into Alibaba (AliExpress, Tmall) to see whether the e-commerce giant is abusing its dominant position. Is the Internet empire, which the government itself created, becoming too powerful?
On Monday, Gucci launched its first online flagship store on Alibaba Group's Tmall Luxury Pavilion platform. Early next year, the Italian fashion company will open a second online store.
Cosmetics
Skin care brand L'Occitane saw sales plummet by 15% due to the coronavirus crisis. Nonetheless, the French natural cosmetics chain was able to weather the storm with Asian growth and strong online performance.
Luxury platform Farfetch welcomes two strategically important shareholders: Alibaba and Richemont together invest 1.1 billion dollar in the company. It is a first step towards consolidation in the online luxury industry.
Alibaba's annual 11.11 Singles Day festival this year stretches over not one but two weekends. From 1 to 3 November, the Chinese already had the chance to make bargains, this time with an extra lot of Western brands.
Nearly 60% of all online sales worldwide are made by just six large companies. Four of these are based in China. This is shown in a new report from Activate Consulting.
Food
French retail group Auchan withdraws from China: the company sells its Chinese division Sun Art to Alibaba for 3 billion euros. Both groups have been working closely together there for some time.
In China, luxury consumption seems to have already overcome the coronavirus crisis: according to Prada, sales are once again reaching a level well above that of 2019.
Fashion retailer C&A is selling its Chinese branch to a local investor, who says the possibilities on the huge Chinese market are enormous.
Capri Holdings (Versace, Michael Kors, Jimmy Choo) has beaten analysts' expectations in the past quarter (April to June). Turnover dropped 66 %, but analysts had feared for much worse.
Dries Van Noten opens its first store in China at the end of August. The Belgian fashion designer moves into a building of no less than 1,800 square metres in Shanghai.
