Headlines From China: Secondhand Luxury Platform Profile: Alibaba’s Idle Fish

Secondhand Luxury Platform Profile: Alibaba’s Idle Fish

Alibaba launched its resale platform Idle Fish (originally “Taobao Secondhand”) in mid-2014, and it was the first e-commerce channel focused exclusively on resale. Leveraging Alibaba’s vast user base and well-developed ecosystem for transactions, Idle Fish was founded on the concept of providing a convenient way for users to resell any unused (i.e. “idle”) goods, especially Taobao purchases that they may have come to regret (the platform’s competitive pricing and frequent discounts have tended to encourage excess consumption). Read more Jing Daily

Box Office: ‘Battle At Lake Changjin’ Plunges 60% On Friday To Top $555M In China

“The Battle At Lake Changjin” earned $25.6 million on its second Friday, dropping 58% from yesterday ($60 million) and 60% from its $63.7 million “first Friday/day two” gross. That’s a sharp drop for a film that had been on a roll since last Thursday, earning $30 million on opening day followed by a $205 million Fri-Sun frame and $292 million in its next Mon-Thurs frame. Even “The Wandering Earth” (co-starring Wu Jing, who also stars in “Wolf Warrior II” and “The Battle At Lake Changjin”) didn’t quite hold the like in early 2019. The sci-fi epic opened with $179 million over the Fri-Sun portion of a $298 million holiday debut. Read more Forbes