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New Retail Briefing: Tencent Develops New Credit Payment Product

Executive Summary

“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:

  • Tencent is developing a credit payment product, named Fenfu, which will integrate into WeChat Pay.
  • Coach and Kate Spade will launch stores on Alibaba’s dedicated luxury and premium goods platform Tmall Luxury Pavilion.
  • Tmall joined New York Fashion Week under the banner of “Tmall China Cool,” with five Chinese brands showcasing their spring-summer 2020 collections at Spring Studios.

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