The acquisition struck many people as a bizarre mismatch, but it's really a sign of where Chinese ecommerce giants are already going.

In the ancient city of Dali, I saw firsthand how RedNote has evolved from a lifestyle platform into the tool that powers the country’s tourism industry.

Watch fans spent a week falling in love with colorful Royal Oak wristwatches that didn’t exist—then the real thing arrived. Now, fantasy is becoming a manufacturing opportunity.