The startup’s series B comes from Istyle, a Tokyo fashion company that operates, among other popular beauty website @cosme in Japan. East Ventures also participated in the round. The terms weren’t disclosed.
1. Indonesia’s cosmetics startup Sociolla raises series B
Istyle plans to expand its business operations to Indonesia through its partnership with Sociolla. Taiwan, Hong Kong, and Thailand will follow later this year.
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2. Amazon, eBay and Alibaba account for two-thirds of cross-border purchases
The second edition of the International Post Corporation (IPC) cross-border e-commerce shopper survey has confirmed the leading role played by Amazon, eBay and Alibaba.
The IPC survey found that consumer preferences in China differed from other developed markets. Chinese consumers are more likely to shop online than consumers in any other country, said IPC, with 36% shopping online at least once a week.
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3. Recommended reading: New luxury lies in untapped markets, business models and mindsets
Major changes are coming to luxury with new markets likely to emerge such as cannabis and pets, and new business models such as following products through their lifecycle instead of separating ties after the sale.
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