Previous Close | 12.85 |
Open | 12.85 |
Bid | 0.00 |
Ask | 0.00 |
Strike | 95.00 |
Expire Date | 2024-12-20 |
Day's Range | 12.85 - 12.85 |
Contract Range | N/A |
Volume | |
Open Interest | 1.47k |
(Reuters) -French luxury group LVMH will deepen its partnership with Alibaba to leverage the firm's cloud and artificial intelligence capacities and boost its presence in China, the companies said on Wednesday. The world's biggest luxury group, and the Chinese e-commerce giant first forged a partnership in 2019. The reinforced ties come as luxury companies redouble efforts to cater to shoppers in China, where demand has been dampened by a property crisis and high youth unemployment.
The French luxury group aims to deliver cutting-edge retail experiences within China’s e-commerce ecosystem and keep pace with the country’s evolving data laws.
Alibaba's (BABA) Taobao and Tmall Group partners with Douyin, bolstering its presence in the China e-commerce market.