BEIJING (Reuters) — China's privately-held Dalian Wanda Group is set to launch a 5 billion yuan ($813 million) e-commerce joint venture with domestic internet giants Tencent Holdings Ltd. and Baidu Inc., according to two sources familiar with the investment.
The e-commerce venture, which will be 70 percent owned by Wanda and 15 percent held by Tencent and Baidu respectively, is set to be announced later this week, the people said.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)