Chinese e-commerce company JD.com Inc. plans to open a luxury platform on its online retail site, ratcheting up its competition with larger rival Alibaba Group Holding for China’s high-end shoppers. Chinese consumers account for 30% of global luxury spending, and they are increasingly doing their high-ticket shopping at home as the Chinese government looks to stem capital outflows. JD invested about $400 million for a stake in...

Source: Wall Street Journal August 14, 2017 14:15 UTC