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Alibaba, Richemont joint venture names CEO

Chinese online retailer Alibaba Group Holding Ltd. and Compagnie Financière Richemont SA named Yating Wu as CEO of their joint venture since July, fashion industry journal Women's Wear Daily, or WWD, reported Aug. 26, citing Wu's LinkedIn profile.

Wu previously held several senior positions at Unilever Group, whose subsidiaries include Unilever NV and Unilever PLC.

Alibaba and the Swiss luxury watchmaker formed Fengmao to bring YOOX Net-A-Porter Group SpA's products directly to Chinese consumers.

Fengmao has set Sept. 30 as the launch date for Net-A-Porter and Mr. Porter online stores on Alibaba's Tmall Luxury Pavilion, the report said.

Claire Chung will remain as YNAP's China general manager, WWD added.