TikTok’s parent company ByteDance is offering to buy back shares at a higher valuation than six months ago as it launches a new share repurchase program for U.S. employees this week, two people familiar with the matter told Reuters on Tuesday.
Reuters
ByteDance told its U.S.-based employees that it is offering $189.90 per share, the people said. The price marks an increase of 11% from the per share price of $171 in their share buyback program from a year ago and $181 from six months ago.
The new share price could value ByteDance at around $315 billion, according to another source, showing the recovery of one of the most valuable private companies from a valuation drop in 2023.
The Chinese owner of the popular short video-sharing app’s regular share buyback program underscores its strong balance sheet, bolstered by growing domestic and global businesses—even as its popular app, TikTok, faces the threat of a U.S. ban.
Congress cited national security concerns when it passed a law last year requiring ByteDance to divest TikTok by Jan. 19, or face a ban in the United States.
The app used by 170 million Americans briefly shut down in the U.S. hours before the ban was slated to take effect, then resumed service after President-elect Donald Trump offered a temporary reprieve.
Trump postponed enforcement of the ban for 75 days to give ByteDance the opportunity to explore its options, and tasked Vice President JD Vance to oversee the process.
Japanese printing and authentication solutions specialist Toppan has acquired French company Selinko, which has developed an NFC-based authentication tool for luxury goods and spirits brands.
Selinko
The value of the transaction was not disclosed. Selinko was set up 12 years ago, and currently has 45 luxury brands among its clients. Among those that have accepted to be mentioned are Atelier des Ors, CrystalCable, Ba111od, Massena Lab, Moooi and Rimowa.
Selinko puts at its clients’ disposal a product authentication platform activated via QR code and NFC tags. Consumers too can utilise the solution by means of a mobile app, a way to allow Selinko clients to broaden their customers’ experience while making their products fully traceable, from when they are manufactured to the end of their useful life.
“This acquisition is a major milestone in our digitalisation strategy,” said Hiroki Shibatani, director and executive vice-president at Toppan. “Selinko’s expertise in authentication technologies, combined with our long-standing design and integration know-how, and our global manufacturing capabilities linked to RFID product development, enable us to offer a unique global solution to address the authenticity and traceability challenges of luxury goods and spirits brands,” added Shibatani.
Tokyo-based Toppan Group was founded in 1900 and has 50,000 employees. The group is a long-established specialist in the design and development of NFC and RFID devices suitable for all types of products, containers and packaging. Authentication and security devices are becoming increasingly important as a way to ensure product traceability.
Intertextile and Chic, China’s leading textile and apparel shows, will jointly hold their Shanghai edition at the National Exhibition and Convention Centre on March 11-13, hosting approximately 5,000 exhibitors in total.
Intertextile
Intertextile, dedicated to textile and apparel producers, will showcase some 3,000 manufacturers and solution providers, exhibiting over an area of 190,000 square metres. As usual, exhibitors will be split among a number of sections: the International Hall, hosting producers from outside China; the Accessories Vision section, dedicated to components like buttons, zips, etc.; Beyond Denim, for jeans and denim products; the Premium Wool Zone; the Economy Hub (formerly All About Sustainability); and the Digital Printing Zone, for printed patterns. Plus the new Digital Solutions Zone, dedicated to innovative solutions for the apparel industry.
Chic, the trade show dedicated to apparel and fashion brands, will host 1,250 exhibitors across an area of 117,200 square metres. After entering through the Chic Young Blood section, showcasing emerging designers and brands, visitors will be able to browse the Chic Women’s, Chic Men’s, Chic Kidz, Denim World, Outdoor & Sport, Digital Fashion, and Chic Accessories Bags & Shoes sections.
Two companion events will be staged in Shanghai alongside Intertextile and Chic. Yarn Expo will present some 560 fibre and yarn producers from Asia as well as Germany, the UK, Turkey and the United Arab Emirates. The PH Value trade show, dedicated to knitwear, will be staged in conjunction with Chic, in hall 3.
Chic
The forthcoming edition of Intertextile and Chic will take place at a delicate juncture, as a new trade war between China with the USA is looming. The USA has raised customs duties on imports from China to 20%, and Beijing intends to retaliate by increasing import duties for US products entering the country. It’s a trade conflict that comes at a time when Chinese manufacturers are still facing the consequences of the local property market crisis, which has prompted Chinese consumers to greatly reduce their spending and prioritise savings.
Fashion, homeware and art retailer Mimmo Studios has launched a crowdfunding campaign to raise £15,000 to support the design, development, and production of the brand’s first-ever knitwear collection, aiming for an AW25 launch.
Mimmo Studios’ founders Katie Brown and Lil Gardiner
The campaign, which kicked off Wednesday (5 March) and runs until 2 April, underlines Mimmo Studios’ commitment to “proving that retail can be done differently — by prioritising ethics, sustainability, and community over mass production and overconsumption”.
After shifting to an online-only model and closing its flagship store in Cheltenham at the start of 2025, Mimmo Studios said it is now focused on creating its own sustainable product range.
The funding target will go towards designing, sampling, and production, as well as press, marketing, and photography.
Katie Brown, Mimmo co-founder and head of brand sustainability & innovation, said: “Our background is in fashion buying and design so this feels like a really natural next step for the brand. People already know and love our taste, so it’s exciting to create something that reflects what we do. It feels like the perfect time to grow in this direction.”
She noted the resulting new collection “will be a celebration of materials and craftsmanship, supporting UK-based artisans, mills, and factories, all while redefining ethical retail.”
Fellow co-founder and creative director Lil Gardiner added: “This project has been years in the making, and the crowdfunding campaign gives us the freedom to explore product design, experiment with colours, references, and materials. I’m excited to see how it all comes together.”
The campaign is rewards-based, meaning contributors will receive exclusive perks rather than shares in the business.