New Retail Briefing: Tencent Develops New Credit Payment Product
“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.