Asia Archive

Shanghai Fashion Week Ups the Ante

SHANGHAI, China — If anyone understands the challenges of making reform happen in China, it is Lv Xiaolei. But the powerful vice secretary-general of Shanghai Fashion Week — called ‘Madame Lu’ by reverent insiders — is on a mission to transform her event into the premiere designer showcase in China. “We want to not only become the leading fashion week in China, but also a …

Furlenco’s $30 million raise shows furniture rental is working for Indian millennials

The idea of ownership in the American economy has changed so much in recent years that it’s easy to forget the once high level of importance placed on it. If we think back, most of us can remember at-least one conversation with our parents about Uber or Airbnb that resulted in a lecture about the dangers of using other people’s things. Ajith Mohan Karimpana, the founder and CEO …

BlackRock Increases Stake in World’s Biggest Jewellery Retailer

HONG KONG, China — One of the worst analyst-rated jewellery retailers in Hong Kong has caught the attention of the world’s largest asset manager. BlackRock Inc. increased its stake in Chow Tai Fook Jewellery Group Ltd., and added the stock to its global long/short equity fund in the third quarter, according to data compiled by Bloomberg. European investment firms Gamax Management AG and Robeco Groep NV …

Employment in China’s tech industry

Despite murmurs of tumult and slowdown in the Chinese economy, the fact remains that China’s economic engine has been on a tear — at roughly 6.5 percent or more for the last six years. Much of this growth has been fueled by China’s emergent tech industry, as even in Silicon Valley, China’s BAT companies (Baidu, Alibaba, Tencent) and hot startup scene have become part of …

Samsung kills the Galaxy Note 7 for good

Samsung is permanently discontinuing production and sales of the Galaxy Note 7 smartphone, owing to safety fears over defective batteries including in replacement handsets the company had subsequently sent to customers following a recall of original devices last month. The news was reported earlier by the WSJ, and a spokeswomen for Samsung confirmed it is ending production of the device, telling TechCrunch: “We can confirm the report that Samsung has …

Alibaba Pictures, Amblin to Co-Produce Films

BEIJING, China — Steven Spielberg’s Amblin Partners and Alibaba Pictures Group Ltd, the film studio unit of Chinese e-commerce giant Alibaba Group Holding Ltd, said on Sunday they will co-produce and finance films for global and Chinese audiences. They will also collaborate on the marketing, distribution and merchandising of Amblin Partner films in China, the companies said in a joint statement. Under the terms of …

In Japan, Tapping the World’s Best Vintage

TOKYO, Japan — These days, vintage fashion is more popular than ever, driven by a growing consumer interest in unique products that signal individuality, as well as rising cost-consciousness and the storytelling value of vintage finds. Indeed, according to the annual resale report published by online consignment website ThredUp, the fashion resale market has grown 82 percent over the last three years, reaching $14 billion, and …

Online fashion retailer Grana raises $10M led by Alibaba’s entrepreneurship fund

Grana, a two-year-old online fashion retailer based in Hong Kong, has announced that it has raised $10 million in fresh funding led by Alibaba’s entrepreneurship fund. This is the startup’s Series A round, and it follows $6 million in previous seed funding. The round is led by Alibaba’s Hong Kong-based fund, which was announced last year, and it also includes participation from existing investors Golden Gate …

Line invests $45 million into Snapchat clone Snow

Line, the messaging company that went public in the year’s highest IPO to date, is diversifying its business and focusing on social after it invested $45 million (50 billion KRW) in Snow, a Snapchat clone focused on Asia. The deal sees Line take 25 percent equity in Snow, the company confirmed to TechCrunch. Snow made headlines this summer for racking up downloads in Japan, Korea, China and Southeast …

Singapore’s Greyloft lands $1.1M to build a real estate agency for the digital era

Singapore-based Greyloft has raised $1.1 million to build out its vision of what a real estate agency should look and function like in today’s digital era. Wait! Estate agents? Aren’t they the bad actors that spoil things for everyone? It’s true that many startups attacking the real estate have chosen to disintermediate agents on the premise that their motivations are misaligned with those of the consumers they represent. …