BEIJING — Over the last decade, Chinese tech company Meitu has amassed 1.5 billion users who download its arsenal of photo-editing apps to beautify themselves. The Xiamen-based company, which claims to have the largest database of human portraits on the planet, plans to restructure the company by moving away from merely providing tools and evolving into a social media ecosystem, it said Thursday.
Meitu chief executive officer and founder Wu Xinhong outlined its business strategy for the next decade at a press conference in Beijing. It involves two main shifts, with the upgrades set to take place on Sept. 21. First is taking its main beauty editing app in China, Meitu, and expanding it to behave more like Instagram, which as yet does not have an equivalent in China; and increasing social functions on Meipai, its video-editing app, to take advantage of the boom in sharing short video and live-streaming.
Exclusive: @tommyhilfiger has tapped 22-year-old actress @zendaya to be his newest collaborator and together they will launch a see-now-buy-now collection in February. Speaking to WWD about the project, the Spider-Man actress said: “Fashion is more than just wearing cool clothes. It’s a way to celebrate self-expression and individuality, which is extremely empowering. This is why I am proud to partner with Tommy Hilfiger.” Tap the link in bio for the full scoop. #TommyXZendaya #wwdfashion
Fashion is facing a blistering pace of technology, a complex economic backdrop, and shifting social mores, priorities, and lifestyles. WWD's annual CEO summit on Oct. 30 and 31, will be the meeting place for some of the sharpest minds in the business who will address how these forces affect a consumer. Speakers this year include Antoine Arnault, Virgil Abloh, Gabriela Hearst, and Olivier Rousteing. Tap the link in our bio to find out more. #wwdceosummit