What: TikTok seeks local alliances with e-commerce players to go around regulation.

Why it is important: TikTok growingly shapes culture and consumption, department stores have to follow suit and adapt.

TikTok is set to acquire a 75.01% stake in PT Tokopedia, the e-commerce arm of Indonesia's largest tech company PT GoTo Gojek Tokopedia, with a long-term investment of $1.5 billion. This move follows Indonesia's October ban on online shopping via social media, which led to the closure of TikTok's e-commerce service in the country. The partnership begins with a pilot period under regulatory supervision. With Indonesia's large and active social media user base, including 125 million TikTok users, this deal marks a significant expansion in the region for TikTok.

TikTok to invest in popular Indonesian e-commerce app