Alibaba Group news

08 June 2021
Alibaba’s cross-border online marketplace Tmall Global has announced the launch of the UK and Ireland edition of ‘Go Global 11.11 Pitch Fest’, a virtual event designed to help international brands grow their businesses globally. Starts accepting applications from 8 June in the UK and Ireland Following the success of Pitch Fest 2020 in the U.S., the programme will be opened up to British and...
19 May 2021
Alibaba has acquired a 5.5% stake in Masan Group’s The Crown X, which operates WinMart and WinMart+ (formerly known as VinMart). Crown X to partner with Alibaba Lazada With the partnership, the retailer will be able to build its digital capabilities and accelerate the offline to online market in Vietnam. It will also enable the company to establish Vietnam’s first tech-enabled ecosystem and...
14 May 2021
Alibaba Group announced financial results for the quarter and fiscal year ended 31 March 31, 2021. Full-year 2020 revenue rose 41% to CNY717.3 bn (US$109.5 bn). The company also reached a milestone of over one billion annual active consumers. March quarter revenue up 64%YoY, but with an operating loss due to the anti-monopoly fine Revenue was CNY187.4 bn (US$28.6 bn), an increase of 64% YoY...
11 May 2021
The company has rolled out a new set of measures to benefit merchants and sellers on its online marketplaces, Tmall and Taobao, after record anti-trust fine .      Offering services free or at lower costs, supported by technological improvements Alibaba Group Chairman and CEO Daniel Zhang said that ongoing technological improvements and upgrades have enabled the company to expand its por...
04 May 2021
CEO of Alibaba’s Freshippo grocery retail chain, Hou Yi, has announced expansion plans to open 10 more Freshippo X Stores in 2021. The first store is profitable within two months of the store opening The first X Store, Alibaba’s membership-only wholesale store, opened in October last year in Shanghai. Hou Yi revealed that the store is making profit by end of 2020, merely two months from t...
14 April 2021
China has imposed a record fine of CNY18.2 bn (US$2.8 bn) on Alibaba, one of the country’s largest online retailers, after an investigation found the ecommerce giant violated China’s anti-monopoly law. A slap on the wrist: painful but bearable On Monday 12 April, Alibaba accepted a CNY18.2 bn (US$2.8 bn) fine from China’s competition watchdog, the State Administration for Market Regulation ...
01 April 2021
China’s two ecommerce giants, Alibaba and Tencent, are collaborating for the first time, which will see Alibaba’s bargain online shopping platform Taobao Deals offered as a mini-program on Tencent’s multipurpose super app WeChat A move prompted by the China’s anti-trust regulators The collaboration means that users of Taobao Deals can now pay via WeChat Pay. Alibaba has long barred the u...
05 March 2021
Walmart-owned Flipkart will expand its online grocery operations to more cities in India, start voice search in English and Hindi, and make changes in its board of directors.  The online grocery market has grown rapidly during the COVID-19 pandemic, and this expansion allows it to compete with the likes of Alibaba-backed BigBasket, Grofers, Amazon and Reliance Industries’ JioMart. Flipkart’s o...
19 February 2021
UK’s number one vitamin company is a good example of how Western brands can find success in Asia by tapping into existing ecosystems. Using Tmall as the launchpad The company launched its first flagship store on Alibaba’s Tmall Global platform in 2015, then a second store in 2020 just before the 11.11 Shopping Festival. Vitabiotics plugs into Alibaba’s existing ecosystem and utilizes d...
18 February 2021
The pandemic has triggered the decline of the beauty market in 2020, but key suppliers such as Procter & Gamble and L’Oréal are now expecting growth to return, through their online sales. L’Oréal: ecommerce to aid return to growth of cosmetics Although the total sales of L’Oréal has dropped for the full year of 2020, APAC is the only region that reported growth during the year.  This is mai...