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"For the majority of our customers－those born after the 1990s－they spend money not just for the product per se but for a change of lifestyle. So what they really value is the experience that a brand can bring."

"Generations of foreign policy leaders agree that international students and scholars are one of America's greatest foreign policy assets," Esther D. Brimmer, executive director and CEO of the Association for International Educators, said in a written statement on Thursday.

"For delivery, I had to send all left shoes in one package and the right shoes in another to avoid trouble with border clearance. Back then, e-commerce was nascent and cross-border regulation was a grey area," he said.

"Further efforts should be made to improve the service quality," said Tong Xiaojun, dean of the Research Institute of Children and Adolescents at China Youth University for Political Sciences.

"GEM stocks are quite divided. It is better to look at the valuation of companies and industries, and whether there is a good business model, instead of focusing on block size and style," said Wei Xinyuan, an investment manager of private equity fund Windsor Capital in Beijing.