Alibaba, Richemont Set Up JV To Target China’s Vast Luxury Retail Market

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A customer tests make-up virtually via the "magic mirror" at the Maybelline Tmall pop-up store.

Chinese e-commerce giant Alibaba Group Holding Limited has inked a global strategic partnership with Swiss luxury group Compagnie Financiere Richemont SA to form a joint venture, tapping into China’s vast retail market by providing enhanced access to overseas luxury brands, said the duo in a joint statement released on Friday.

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