Quick Take — Douyin (Tik Tok) : wine sales – bucking the trend – at 19%

The wine market is in decline, but not for Douyin. While the wine sector in China faces a crisis, the Chinese version of TikTok shows a surprising increase in wine sales on its e-commerce platform. A countercurrent trend that has attracted the attention not only of industry experts, but also of major international brands such as Penfolds and Lafite, who have not hesitated to invest in the platform. And all this while the economic crisis and traditional consumption habits seemed to be condemning the wine market. Gambero Rosso

Quick Take — Zalando acquires About You and declares war on Chinese e-commerce giants

Zalando announced the acquisition of About You, one of its main competitors in the European e-commerce market, in a EUR 1.1 billion deal. Aiming to strengthen its position in online commerce, the German e-commerce platform is looking to cover a larger slice of the fashion and lifestyle market. Founded in 2008 in Berlin, Zalando has grown to serve over 50 million customers across Europe

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