On August 4, the stock price of Nasdaq-listed retailer Missfresh rose rapidly before the close of trading, posting an increase of more than 160%, amid market rumors that ByteDance's Douyin is considering an acquisition.
On August 2, Xu Zheng, founder and CEO of Missfresh, published a message on his personal social media account that denied rumors that Missfresh, a fresh food e-commerce platform, had a broken capital chain and was unable to operate.
Regarding the rumors of dissolution, Missfresh responded on the afternoon of July 28 that under the larger goal of achieving profit, the company adjusted its business and organization.
Chinese e-commerce firm EachNet.com, which was once owned by eBay, has recently announced that it will cease website operations at 24:00 on August 12, due to the adjustment of its operation strategy.
Missfresh, a Chinese fresh food e-commerce platform, announced on Friday that it has reached a strategic investment cooperation agreement with Shanxi Donghui Group, which plans to invest equity worth 200 million yuan ($29.58 million).
Last Friday, a Minnesota court held a four-hour hearing in which Liu Jingyao, the accuser, asked for punitive damages from both Richard Liu and Chinese e-commerce giant JD.com. She attended the hearing in person.
Wei Wenwen, President of Douyin E-commerce, announced that the platform's GMV in the past year increased 3.2 times year-on-year, and that more than 10 billion products were sold.
Chinese e-commerce giant JD.com has recently completed a makeover of its listed categories, while the company's existing Fashion Home Business channel has been upgraded to the New Department Store channel.
Cross-border fashion e-commerce company SHEIN is now the most downloaded application in the United States, surpassing other powerhouses like TikTok, Instagram, Twitter, and even Amazon.
Cross-border fast fashion e-commerce platform SHEIN announced on April 28 that it has launched a new product line called "evoluSHEIN," which commenced sales globally on April 29.
Chinese tech giant Alibaba plans to expand its Southeast Asian e-commerce subsidiary Lazada's business to Europe, seeking to promote overseas business growth amid slowing opportunities at home.
Xiaomi Youpin, an e-commerce arm operated by leading Chinese electronics manufacturer Xiaomi, has undergone changes to its management.
Major Chinese e-commerce platform Meituan has recently launched a product called "Meituan Livestreaming Assistant," a free tool intended for online merchants and internet influencers.
Daniel Zhang, CEO and Chairman of Alibaba Group Holding Limited, has stepped down as Chairman and General Manager of two Tmall and Taobao-related companies, replaced by Trudy Dai.
With its strong position in China's platform economy, Alibaba has been taking meaningful steps to help both brands and consumers overcome existing barriers to sustainable consumption.