Breaking News
The Platform Group (TPG) acquired 100 per cent of CHRONEXT, a German retailer and marketplace for luxury watches which filed for insolvency in August. LinkedIn
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TikTok Shop will likely expand to Spain in December, brands which were approached by TikTok’s mother ByteDance reported. Some merchants have also been encouraged to join TikTok Shop in Ireland, though it’s unclear when that platform would launch. SCMP
German marketplace provider Otto is happy with its new AI-based semantic search. Customers were presented with a lot more relevant Sponsored Product Ads, which led to significantly high click-through rates. Otto
MediaMarktSaturn has expanded its retail media offering to include InStoreAds. Advertisers and marketplace sellers can now also advertise in 650 bricks-and-mortar shops in Germany, Austria, Hungary, Luxembourg, Turkey and the Netherlands. MediaMarktSaturn
Alibaba establishes a new e-commerce business group that unites all of the company’s platforms for the first time. The new unit includes platforms such as Taobao, Tmall, AliExpress, Alibaba.com, Lazada, Trendyol, 1688 and Idle Fish. The aim is to optimise global supply chains. Retail News
Investor News
PSG Equity has made a strategic investment in the ERP software platform provider PlentyONE, which connects brands and retailers to over 150 marketplaces. The PSG investment will be used for international growth and an enhanced product and services portfolio. PSG Equity
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