BEIJING, Oct. 26 (Xinhua) -- China's e-commerce giant Alibaba Group announced on Friday to set up a joint venture (JV) with Yoho Net-A-Porter ("YNAP"), a luxury e-commerce company of Richemont Group.
At present, YNAP has been one of the world's most popular high-end e-commerce companies, covering nearly 1,000 luxury brands, designer brands and beauty brands.
The JV will serve the consumers in the Chinese market and Alibaba will provide basic support such as technology, payment, logistics, as well as the service of data-based selection and consumer insights. (Edited by Hu Pingchao, hupingchao@xinhua.org)
A single purchase
