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DD172.TV brings you the first episode of “We Went to China” a film documenting Damon Dash and the DD172 crew on one of many trips to the far east . Co – Starring Raquel M. Horn, McKenzie Eddy and Shelly Pecot AKA “Mama China” as well Chinese artists DJ Wordy, Hedgehog , MC Yan as well as several other of China’s musical elite .

Dwyane Wade, left, and Li Ning at a press conference in Beijing on Wednesday.

PRNewswire — China’s leading sportswear company, LI-NING Company, and NBA All-Star Dwyane Wade, announced the creation of a new athletic footwear and apparel brand called WADE, which will serve as the centerpiece of the corporation’s growing international basketball strategy, and be shaped by an unprecedented level of creative and strategic direction from the two-time NBA Champion.

Mr. Li Ning and Wade announced the multi-year partnership at a press conference earlier today in Beijing. Elements will include a signature line of adult apparel and footwear, available soon at LI-NING retail stores and online throughout China, and set to debut in the United States in 2013. Financial terms of the deal were not disclosed. Checkout  the kicks after the jump.

SOURCE LI-NING Read More

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Chinese e-commerce site Alibaba has bought half of Yahoo’s stake in the company — 20% of Alibaba’s shares — back from Yahoo for $7.1 billion.

Under the terms of the agreement, Yahoo will sell half its stake in Alibaba for at least $6.3 billion in cash and up to $800 million in new Alibaba preferred stock. Read More

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Spotted: HuffingtonPost

From the basketball court to the tasting room? That’s the latest move from recently retired NBA star Yao Ming, who has started his own Napa Valley wine company: Yao Family Wines. This isn’t the first venture into the business world for 31-year-old Ming, who also owns the pro basketball team Shanghai Sharks.

Under the brand name YAO MING, Yao Family Wines has released its first wine — a 2009 Napa Valley Cabernet Sauvignon — which will be immediately available for distribution in China. Capitalizing on the regions’ wine boom, Ming’s label intends to cater to the top tier of the Chinese market. The first 5,000-case production is priced at 1,775 yuan (US $289) per bottle. Read More

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