New Oriental’s East Buy fired Sun Dongxu after he appeared to back the idea that star live-streamer Dong Yuhui was taking too much credit for the company’s success.
Chinese makeup brand Perfect Diary says it has managed to pull in a new group of “high-value customers” which the launch of lipstick that showcases its R&D efforts.
JD.com and rival Alibaba have long been China s top e-commerce firms, but both have seen increasing competition this year from lower-priced rivals PDD Holding s Pinduoduo and ByteDance s Douyin as wary consumers, faced with macroeconomic headwinds in China, hold tight to their purse strings.
The founder of JD.com told staff he acknowledged the e-commerce giant was too large and inefficient and vowed to instil change, in response to a staff complaint about problems with the platform amid intensifying competition. Richard Liu made the comments in an internal staff forum in response to a post by an employee, local media reported. Liu then responded, acknowledging problems and saying they were due to his "poor management".