New Retail Briefing: Alibaba Buys Kaola; Kuaishou Launches a “Trustworthy Goods Festival”
“New Retail” is a model for integrating online retail, offline retail and logistics across a single value chain powered by data and technology. In this biweekly series, we cover important developments in New Retail in China and beyond. Here’s what’s happening:
- Alibaba acquired cross-border e-commerce platform Kaola for US$2 billion.
- Short video app Kuaishou achieved sales of over ¥100 million (US$14 million) in its first “Trustworthy Goods Festival,” which ran August 28-30.
- Fliggy and Alipay partnered with the San Diego Tourism Authority and Brand USA to encourage Chinese tourists to visit San Diego.
- US fashion brand Everlane launched a flagship store on Tmall Global.