All Alibaba Group articles
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News briefsBig in South Korea? Alibaba plans to invest $1.1bn
Alibaba Group is set to inject $1.1 billion into South Korea over the next three years, according to a business strategy document cited by South Korean news agency Yonhap on Thursday. The investment aims to establish a logistics center and bolster business operations in the region. Reportedly, the Chinese e-commerce ...
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News briefsJD.com wins anti-monopoly lawsuit against Alibaba
Chinese e-tailer JD.com has announced that it has won an antimonopoly lawsuit against Alibaba Group, Reuters reported. According to the High People’s Court of Beijing, Tmall, Alibaba’s brand platform, abused its market dominance and adopted monopolistic practices known as “choose one from two,” causing JD.com serious damage. Alibaba Group Holding ...
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News briefsAlibaba partners with CommerceHub to support European expansion
Miravia, a Spanish marketplace that is part of Chinese group Alibaba, is partnering with CommerceHub, a commerce network with headquarters in Latham, New York. The partnership involves integrating CommerceHub’s e-commerce platform with Miravia’s operations. CommerceHub connects more than 40,000 retailers and brands globally, transacts around $50 billion in gross merchandise ...
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News briefsAnta Sports and Alibaba among first companies to introduce HKD-RMB Dual Counter Model
The Hong Kong Exchanges and Clearing Ltd (HKEX) officially launched the “Dual Counter Model” for Hong Kong Dollar (HKD) and Yuan (RMB) on June 19. This is intended to strengthen Hong Kong’s role as an international financial center by bringing more liquidity and vitality to the stock market. Anta Sports ...
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ArticleAlibaba Group CEO and Chairman resigns to head Alibaba Cloud
Daniel Zhang has unexpectedly resigned as CEO and Chairman of Alibaba Group. He has served as CEO for the past eight years and as Chairman for the past four years. Successors for these two vacant positions have already been determined: Joseph C. Tsai, currently Executive Vice Chairman, will succeed Zhang ...
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ArticleAlibaba misses revenue forecast
China’s Alibaba Group reported that its revenue had missed the forecasts for its Q4. The company is struggling to attract new users as the Chinese e-commerce market matures and new competitors chip away at market share. Alibaba posted revenue of 208.2 billion yuan renminbi (€27.5bn) in the three months ended ...
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News briefsAlibaba continues global digital talent program with global conference
The Alibaba Group has continued its global digital talent (DGT) program, an initiative to promote academic exchanges and talent incubation for global digital transformation and inclusive development. The first hybrid conference since the pandemic brought together representatives of Alibaba’s global partner educational institutions, showcasing the learnings and achievements of the ...
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News briefsAlibaba reports improved results despite challenges
Despite softer demand and supply chain and logistics disruptions, Alibaba Group reported revenue and profits for Q3 that exceeded Wall Street estimates. Revenues increased by 2 percent to 247.8 billion yuan renminbi (€34.1b) from RMB 242.6 billion for the period ending Dec. 31. The Chinese e-commerce behemoth said in a ...
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News briefsJack Ma to give up control of Ant Group
Ant Group founder, Chinese billionaire Jack Ma, who is also the founder and longtime head of Alibaba Group, will relinquish control of the Chinese fintech giant, according to Reuters. The move is intended to draw a line under the regulatory crackdown that began shortly after Ant’s IPO failed two years ...
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News briefsAlibaba plans logistics center at Istanbul airport
Chinese e-commerce giant Alibaba Group Holding Ltd will invest more than $1 billion in Turkey to build a logistics center at Istanbul Airport and a data center near the Turkish capital of Ankara, Michael Evans, president of Alibaba Group since 2015, told Sabah newspaper last Sunday. Alibaba is seeking to ...
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ArticleNo detailed Singles Day 2022 numbers; Chinese outperform foreign brands in best-selling items
According to a report by Reuters, Chinese consumers tended to opt for relatively inexpensive domestic brands rather than more expensive ones on this year’s Singles Day (Nov. 11), as strict Covid-19 restrictions and economic uncertainty weighed on the shopping spectacle. The shopping day regularly surpasses “Black Friday” and “Cyber Monday” ...
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News briefsAliExpress launches 11.11 global shopping festival with longest sales period ever
AliExpress, the global online retail marketplace owned by Alibaba Group, officially kicked off its 2022 11.11 Global Shopping Festival on Oct. 31 under the theme “Deals & Fun. Always Better Together” – a full two weeks earlier than previous years and running throughout November. For all orders in Spain, France, ...
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News briefsAlibaba.com offers new service for European B2B buyers
Alibaba.com, Alibaba Group’s B2B marketplace, is launching a new B2B service called Alibaba.com Select, aimed at retailers, distributors, wholesalers, medium and large enterprises in Europe that already import from China or are interested in doing so. According to “The Future of B2B E-Commerce: Online Platforms,” an independent study by ...
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News briefsAlibaba’s Tmall Luxury Pavilion enhances metaverse experience
Tmall Luxury Pavilion, the Alibaba luxury shopping platform, introduced a so-called Meta Pass and hosted an augmented reality fashion show in Shanghai. As Alibaba reported, Luxury executives tried on AR glasses, held a virtual item (such as a digital luxury bag), and placed it in a gift box. When they ...
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ArticleAlibaba wants to establish Lazada in Europe
Alibaba’s unit Lazada plans to enter the European market and take on its online rivals such as Amazon and Zalando. In an interview with Bloomberg News, Lazada’s CEO, James Dong, highlighted that Europe is a “very big market” and that ”for most of the European brands, their largest retail partner ...
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ArticleESG Report 2022: Alibaba reduces carbon footprint by 620,000 tons using renewable energy
Alibaba Group announced that it has saved 619,944 metric tons of carbon dioxide equivalents over the past 12 months by using clean energy sources to achieve its goal of carbon neutrality. That savings is equivalent to the amount of carbon dioxide generated by 12,915 U.S. households in a year, according ...
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News briefsAlibaba reports skateboard trend in China
Chinese technology company Alibaba reports a surge in sales of skateboards. In China, skateboarding is considered an outsider sport or culture, not least because of its U.S. influences. Source: Elon Shi via Alizila Skateboarder Elon Shi in Shanghai However, as Alizila, Alibaba’s news platform, writes, skateboarding’s reputation ...
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News briefsAlibaba cracks mark of 1 billion Chinese consumers
For the last fiscal year, Alibaba reported a record 8,317 billion yuan renminbi (€1,160 billion) in global gross merchandise value. However, revenue in the quarter ended March 31, 2022, climbed only 9 percent year-on-year to RMB 204.1 billion (€28.5 billion). This is the slowest growth ever, which the company attributes ...
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News briefs
AC Milan launches official store on Tmall
AC Milan has announced the launch of an official flagship store on Tmall, the largest online retail platform in China, part of the Alibaba Group. It will be the sixth e-commerce store of the football club in China, a country in which AC Milan boasts more than 146 million fans. ...
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News briefsAlibaba Group upsizes share repurchase, appoints new independent director to board
The Alibaba Group Holding’s board has authorized to upsize its share repurchase program to US$25 billion from US$15 billion, in a sign of confidence about the company’s continued growth in the future. The Share Repurchase Program will be effective for a two-year period through March 2024. As of March 18, ...
