ALIBABA news and archive

Chinese premier vows measures to support the economy

China will step in to support private businesses and cut taxes to boost the slowing economy, Premier Li Keqiang said Wednesday. Growth in the world's second largest economy is flagging, dragged down by the trade dispute with the US, and growth should slip to 6.2 percent this year according to the World Bank. The slowdown complicates Beijing's...

Fashion Featured

Richemont joins Alibaba in the fight against counterfeiting

Luxury groups are fighting back against counterfeiting, a major industry-wide dilemma that causes billions of dollars in damages each year. Alibaba started an Anti-Counterfeiting Alliance (AACA) in attempt to protect intellectual property rights. The Alliance now has 115 members across 16 countries who share a mission to end counterfeiting....

News

An education: MBAs with Chinese characteristics

At business school with Chinese characteristics, undergraduate students debating how a company should deal with striking workers get a harsh reality check from their professor. While students suggest negotiating better benefits for the strikers -- a textbook answer -- their lecturer presents them with a classic Chinese company tactic: Get law...

Report

Indonesia's Tokopedia raises 1.1 billion USD from top investors

Indonesia's top e-commerce site Tokopedia said Wednesday it has raised 1.1 billion USD in funding from investors including Japanese tech giant SoftBank and Chinese online store Alibaba. The latest financing round for Tokopedia, which lets users to set up online shops and handles transactions, underscores a push by foreign firms to tap the...

Retail

Macy’s exiting the Chinese market

Macy’s is withdrawing from China completely by the end of this year. After shutting down its Shanghai store in 2015 and taking down its standalone Chinese website in June, the American department store has decided to also stop operating within Alibaba’s marketplace Tmall. In a statement published on its soon-to-be-closed page, the company...

Retail

Alibaba signs European trade deal with Belgium

Chinese retail giant Alibaba has reportedly signed an agreement with the Belgian government to establish an e-commerce trade hub, as part of its European expansion strategy. The news was reported by Reuters, who said the project is part of Alibaba’s Electronic World Trade Platform (eWTP), and Belgium is the first European country to join the...

Report

Spanish retail giant Corte Ingles in deal with Alibaba

Spain's top department store chain El Corte Ingles on Thursday announced a collaboration with Chinese e-commerce giant Alibaba. Under the deal El Corte Ingles ("The English Cut"), currently present only in Spain and Portugal, will be able to sell its products worldwide through Alibaba platforms like Tmall and AliExpress. For its part AliExpress...

People

Jack Ma, China's richest man, is a Communist Party member

Jack Ma, founder of Chinese tech giant Alibaba, is among the world's richest people but he has now emerged as a member of another club: China's 89-million-strong Communist Party. The billionaire's Communist bona fides were revealed by the People's Daily, the party's official mouthpiece, in an article praising contributors to China's development....

Fashion Featured

Chinese stores remove Dolce & Gabbana’s products, founders release apology video

Dolce & Gabbana’s image crisis in China is far from over. A series of retailers, including JD.com, Tmall, Y-closet, Secoo and Net-a-Porter, have taken down all Dolce & Gabbana’s products from their platforms, according to local news platform Sina. Andrew Keith, president of luxury department store Lane Crawford, is quoted by the South China...

Retail

'Ababis' and 'Star Wnrs': Knockoffs thrive in China e-commerce

Sneakers on a popular Chinese e-commerce platform look like Adidas, but are branded "Ababis". Underwear resembling Calvin Klein are called "Caiwen Kani". Toys with an uncanny resemblance to a certain blockbuster movie franchise opt for "Star Wnrs". As China held its massive annual "Singles Day" online sales event on Sunday, shoppers could still...

Management|ANALYSIS

Alibaba breaks its own sales record during Single'sDay

New York – Chinese e-commerce giant Alibaba Group Holding Ltd has registered a record 213.5 billion yuan (30.70 billion dollars) in sales during Singles' Day, it’s largest 24-hour shopping event. The 27 percent year-on-year sales increase came short of previous year’s annual growth rate of 39 percent. "Today we reached 200 billion (yuan). But we...

Retail

In Graphs: Impossible Growth of Singles Day in China

Started as a anti-valentines joke amongst university students, and later on adopted by Alibaba as a sales event to buy themselves a gift to celebrate the beauty of being single, it has since burgeoned into the world’s largest online shopping festival. Rarely do we see financial graphs that points so dramatically upward, and so consistently - but...