News
Carousell cuts 10% of total headcount
A total of 110 roles were laid off.
Weekly News Wrap: Cautious travelers hit China's consumer sector; Shein sets aside $15m on factory upgrades
And a top Xiaomi India executive resigns as challenges mount.
South Korean retailers offer low-price cakes ahead of Christmas
Some are providing discount benefits for pre-orders.
Weekly News Wrap: Lockdowns boost Pinduoduo’s Q3 revenues; Ex-Flipkart exec’s startup bags $5.8m in seed funding
And UK-based online fashion retailer Boohoo expands to India.
ASICS acquires race registration platform njuko
It will now offer race registration services globally.
India’s online marketplaces to reach $350b in GMV by 2027
The country’s online marketplaces have contributed over $100b in GMV so far.
Shein reduces water use in new printing technology
It also accelerates the efficiency of printing.
Luk Fook Group’s net profit inches up by 0.6%
The company’s net profit stood at HK$658m in the six months ending in September.
Wider economic recovery to drive India’s consumer spending growth
Consumer spending is expected to grow by 7.1% year-on-year in 2023.
Weekly News Wrap: Amazon shutters food delivery business in India; Louis Vuitton to launch homeware store in Shanghai
And US-based Fanatics to refurbish retail stores at Tokyo Dome in a deal with Yomiuri Giants.
Australia retail trade up 12.5% YoY in October 2022
However, it declined by 0.2% month-on-month.
Vestiaire bans fast fashion brands
This is in support of the circular fashion economy.
Weekly News Wrap: JD.com says worst is over for consumer demand; Tata eyes 20 'beauty tech' stores
And Tencent’s plan to cut its stake in Meituan triggered an internet stock selloff.
Alibaba launches sustainable packaging campaign with Shiseido
They offered products in refillable containers as rewards.
Mash may expand luxury brand Gelato Pique after Bain Capital deal
The Japanese apparel maker was recently bought by US-based Bain Capital Private Equity.
Bain Capital to buy majority stake in Japanese apparel maker Mash
Fashion brands under Mash include Gelato Pique, Snidel, and Fray I.D.
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AI prompts fearless dive into corporate reinvention
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Technology
Siam Piwat Group’s digital chief touts AI’s transformative power in boosting customer value, personalisation, and brand trust.
Siam Piwat Group’s digital chief touts AI’s transformative power in boosting customer value, personalisation, and brand trust.
