Daily Brief

December 10, 2018

TODAY’S TOP FIVE CAN’T-MISS STORIES

  • 1

    As Shares of Tiffany & Co. Wobble, Management Stays on Course in China

    With Tiffany, investors were shaken by the negative impact of Chinese tourists. Ike Boruchow, senior analyst at Wells Fargo Securities, said in a report earlier this week that “currency fluctuations, price reductions on the Mainland and a recent crackdown on China’s ‘daigou’ (an industry based on shoppers buying luxury goods overseas and bringing them back to China)” were to blame. Read more on WWD

  • 2

    Why the Future of Luxury Fashion is on WhatsApp and WeChat

    “In Hong Kong, the end transaction could be either in WhatsApp, iMessage or WeChat – within mainland China it's obviously focused around WeChat,” explains founder and CEO of Threads Styling Sophie Hill. “Our mission is ‘inspire, acquire, deliver’. So if you see something on Instagram, you would then swipe up through a Story, start chatting to one of our sales team and then all payment and invoicing would happen within that conversation.” Read more on South China Morning Post

  • 3

    Club Med's Chinese Owner Sees Pricing Toward Bottom for H.K. IPO

    Fosun Tourism Group, the unit of billionaire Guo Guangchang’s drugs-to-insurance conglomerate that’s seeking to raise as much as $548 million in a Hong Kong IPO, expects to price the deal toward the bottom of a marketed range. Read more on Bloomberg

  • 4

    Clues in Marriott Hack Are Said to Implicate China

    Hackers behind a massive breach at hotel group Marriott International left clues suggesting they were working for a Chinese government intelligence gathering operation, according to sources familiar with the matter. Read more on CNBC

  • 5

    Mogu’s long journey: From rejecting Alibaba’s advances to US IPO

    The firm’s initial incarnation was a Pinterest -type pinboard that let users share fashion items with links to third-party e-commerce platforms. Back then, a majority of the products on display came from Taobao, Alibaba’s marketplace for small and medium-sized merchants. Read more on TechCrunch