Winding down from work? Here are today’s top stories that you should know

1. LVMH to launch multi-brand ecommerce site for its luxury brands

Leading luxury group LVMH plans to launch a website in May that will be branded as its department store Le Bon Marché. It will offer labels from the group’s own stable as well as distributing non-LVMH brands — putting it head-to-head with online platforms such as Net-A-Porter and Matchesfashion.com.

Customers that buy both online and in-store typically spend 50% more than those who only visit shops, according to Exane BNP Paribas analysts.

While ecommerce is still a relatively small portion of sales in the global luxury goods market at 7%, it will expand to 12% by 2020, according to Boston Consulting Group.

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2. Go-Jek launches important new feature,now lets users transfer e-cash to each other

The startup has introduced a new feature which allows users to send Go-Pay credit to each other at no cost. It’s a big step in Go-Jek’s evolution into an increasingly powerful payments solution that enables users to transact with each other.

Source: Tech in Asia

Go-Jek also confirmed that users will be able to withdraw Go-Pay credit in the form of cash at several partner banks once the feature is fully implemented. The startup has not yet revealed which banks are involved.
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3. Dymon Asia announces first close of its debut $50M fund for fintech

Dymon Asia Ventures is focused on fintech deals and it is targeting a $50 million raise. Today, its founding partners disclosed a first close of $20 million from a range of LPs that include Thai bank Siam Commercial, which invested an undisclosed sum via its fintech arm, Digital Ventures.

While plenty of funds have sprung up to tackle Series A deals, Dymon Asia is aiming to cater to a very specific category of fintech-led companies where the partners believe their resources and understanding can move the needle.

“We want to give fintech founders the attention they need, especially the b2b guys who often don’t appeal to traditional VCs,” said Dymon Asia partner, Christiaan Kaptein.

Read the rest of the story here.

 

4. Community Chatter: The Alipay of Indonesia

Source: Sheji Ho, CMO at aCommerce

Go-Jek is moving towards its goal of becoming a leading payments platform for Indonesians.

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