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Toby Xu will be succeeding Maggie Wu, Alibaba’s current chief financial officer. Image credit: Alibaba Group

Luxury Daily’s live news for Dec. 6:

Alibaba names Toby Xu as new CFO

Ecommerce giant Alibaba Holdings Ltd. has announced that Toby Xu, deputy chief financial officer, will become the company’s chief financial officer effective April 1, 2022.

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Tiffany & Co, Patek Philippe release exclusive Nautilus timepieces

LVMH’s Tiffany & Co. and Swiss watchmaker Patek Philippe have joined forces to release a special version of the Nautilus Ref. 5711 watch.

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Moncler announces collaboration with Inter Milan football club

French-Italian outerwear label Moncler is the new official formal wear partner for the Italian football team FC Internazionale Milano.

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Highsnobiety launches multi-faceted HighArt platform

Streetwear platform Highsnobiety has debuted a high art platform, including a Miami pop-up store, ecommerce offerings and a print magazine.

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Luxury groups with diverse portfolios most resilient in 2020: Deloitte

Leading luxury groups continue to dominate the sector, as 15 companies with sales of more than $5 billion accounted for more than 60 percent of luxury goods sales in 2020.

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