Alibaba invests in upscale e-tailer

Chinese e-commerce giant Alibaba announced an investment of $100 million in online retailer The offering of will complement, the business to consumer arm of Alibaba. 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