Welcome! Sunday - Jun 25, 2017

Alibaba Cracks Down Counterfeits, Tencent’s Net Profit Rises 59%, Topshop Expands in China, New Pact between Alibaba and Alipay, eBay Shares User Data with Manufacturers in China


China Ecommerce Weekly Breif-Obserevre Intelligence

Editing by Su-Jun Lim

 

Alibaba continues to battle the problem of counterfeit goods in the luxury market. However, it has promised to crack down on counterfeits if luxury fashion brands like Burberry open shops on Alibaba’s website.

 

Chinese Internet giant Tencent Holdings Ltd. posted a 59% jump in its second-quarter net profit, presumably boosted by its popular messenging app, WeChat. Its revenue from social networks alone increased by 47%. Monthly active WeChat users increased 57% from last year to some 438.2 million.

 

Following the opening of its flagship store in Hong Kong last year, Topshop now strikes a deal with Shangpin.com, which will sell its products.. Shangpin.com, established in 2010, is China’s first platform to sell multi-brand contemporary fashion labels and boasts 5 million users.

 

A newly revised deal strengthens ties between Alibaba and Alipay, which is similar to eBay Inc’s PayPal. The $6 million limit on Alibaba’s gains will be removed if Alipay’s parent goes public. The pact between the two is especially crucial after Alipay spun off separately because Alipay is at the core of Alibaba’s business.

 

eBay is sharing users’ search terms with manufacturers, who in turn respond quickly to produce goods according to customer tastes. It is revolutionizing how eBay operates its business, connecting vast exporters in China to U.S. buyers on its site.

 

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