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"Customers can choose different packages at the price of 6,800, 12,800 or 21,800 yuan (,100/,000/,470), based on their financial situation," he said.

"Chinese retailers look for brands that are well placed to expand into their own growing markets where an influential, well-connected name can help to open doors with mall owners, landlords etc, that can be promoted to quickly appeal to shoppers," said McKeever. "As this owner was already familiar with the brand…that knowledge and expertise augers well. Given the rate of expansion in Chinese malls this would seem an ideal opportunity and great fit."

"Compared with other online luxury platforms, our company is built around competitiveness," said Hong Xiaobo, chief operating officer of the company.

"Climate fund will be one key issue to be discussed during the next UN climate change conference," she said.

"Consumers setting at home and not out spending money because they fear catching the coronavirus is the ultimate negative outcome," Scott Wren, senior global market strategist at Wells Fargo Investment Institute, said in a research note.