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Alibaba invests in upscale e-tailer Mei.com

Chinese e-commerce giant Alibaba announced an investment of $100 million in online retailer Mei.com. The offering of Mei.com will complement TMall.com, the business to consumer arm of Alibaba. Mei.com currently features 200 brands and presently runs flash sales for brands such as Giorgio Armani, Michael Kors, Ermenegildo Zegna, Roger Vivier and Longchamp.

MEI.COM acquired by Alibaba

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