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| Name | Symbol | Market | Type |
|---|---|---|---|
| Alibaba Group Holding Limited | NYSE:BABA | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.52 | 0.69% | 75.63 | 76.93 | 75.62 | 76.185 | 5,470,253 | 15:47:23 |
From Apr 2019 to Apr 2024
By Cristina Roca
Compagnie Financiere Richemont SA (CFR.EB) said Monday that its luxury-goods ecommerce business is launching a store in Alibaba Group Holding Ltd.'s (BABA) luxury marketplace.
Richemont's Net-A-Porter business is opening a flagship store in Alibaba's Tmall Luxury Pavilion, the companies said in a joint press release.
The launch is the first tangible step following the inking last October of a joint venture between the Swiss luxury-goods group and the Chinese ecommerce giant aimed at targeting China's luxury-goods market.
The store already sells brands including Brunello Cucinelli SpA (BC.MI), Capri Holdings Ltd.-owned (CPRI) Jimmy Choo and Tom Ford, as well as Richemont-owned brands including Cartier, its star jewelry brand, and several luxury watch brands.
"This partnership between Alibaba and Yoox Net-A-Porter is bringing Chinese consumers unprecedented access to the world's leading luxury brands," said Jian Fan, president of Alibaba's Taobao and Tmall.
Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca
(END) Dow Jones Newswires
September 30, 2019 03:46 ET (07:46 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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