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Retail Asia21/10/2021

“Over the last 12 years, 11.11 has showcased the tremendous consumption power of Chinese consumers and pushed boundaries for the global retail sector,” said Chris Tung, Chief Marketing Officer of Alibaba Group. “This year’s Festival marks a new chapter for 11.11. We believe we must leverage the power of 11.11 to encourage sustainable development and […]

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Retail Asia13/10/2021

Alibaba Group founder Jack Ma, largely out of public view since a regulatory clampdown started on his business empire late last year, is currently in Hong Kong and has met business associates in recent days. The Chinese billionaire has been keeping a low profile since delivering a speech in October last year in Shanghai criticizing […]

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Retail Asia01/10/2021

China’s Alibaba Group Holding Ltd has begun offering payment services from Tencent Holdings Ltd’s WeChat on a number of its apps, after the government ordered major tech firms to stop blocking each other’s services and links. Local tech blog 36Kr reported on Tuesday that users of Alibaba’s food delivery app Ele.me, luxury goods app Kaola […]

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Retail Asia27/09/2021

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Logistics provider Ninja Van added Alibaba as a new investor as it raised $578 million in a late stage funding round, the Singapore-based firm said on Sunday. Existing investors to participate in the round included Europe’s GeoPost/DPDgroup, B Capital Group and Monk’s Hill Ventures. The funds will be allocated towards infrastructure and technology systems that […]

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Retail Asia13/09/2021

An Alibaba-backed fund has invested an undisclosed amount in Vietnamese retail chain Homefarm. The investment by eWTP Technology and Innovation Fund is a “seven-digit figure,” the company’s CEO Tran Van Truong said. Homefarm, which has around 150 stores that sell meat, fish and groceries imported from several countries including the U.S., Australia and South Korea, […]

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Retail Asia04/08/2021

China’s Alibaba Group Holding missed analyst estimates for first-quarter revenue on Tuesday, as its e-commerce business was hurt by rising competition from smaller players such as JD.Com and Pinduoduo I. Alibaba’s results mirror those of e-commerce giant Amazon.com in the United States, as the easing of pandemic-related restrictions has led to more consumers visiting physical stores […]

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Retail Asia04/08/2021

Delivery startup Loship has raised $12 million from a consortium co-led by an Alibaba-backed investment fund. The lead investors are BAce Capital, which counts Ant Financial of Jack Ma as its largest limited partner, and Hong Kong investment firm Sun Hung Kai & Co. Loship plans to use the money to increase its presence in […]

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Retail Asia14/07/2021

Chinese e-commerce giant Alibaba is going to invest at least 100 million yuan (US$15.4 million) this year to develop a digital flea market on the mainland, Chinese media report. The firm launched a used-goods mobile app called Xianyu (Idle Fish) in June 2014 that has since attracted more than 100 million registered users, according to […]

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Retail Asia05/07/2021

Alibaba co-founders Jack Ma and Joseph Tsai are reportedly pledging their shares in the Chinese e-commerce giant in exchange for significant loans from global banks. The two tech billionaires have pledged their shares to banks including UBS, Credit Suisse, and Goldman Sachs, according to a «Financial Times» report citing company documents. The shares pledged were […]

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Retail Asia18/06/2021

Global giants Amazon and Alibaba are racing to recruit more Vietnamese vendors on their platforms seeking to boost their share of a booming e-commerce market. Amazon saw the number of Vietnamese merchants exporting at least $1 million worth of goods from Vietnam triple last year. The surge was driven by demand for tools, kitchenware, handicrafts, […]

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Retail Asia11/06/2021

Chinese e-commerce leader Alibaba Group Holding Ltd plans to develop self-driving trucks with logistics subsidiary Cainiao, Chief Technology Officer Cheng Li said on Thursday. Cheng also said Cainiao aims to introduce 1,000 autonomous delivery robots in China over the next year. The announcement comes as dozens of startups, automakers, and large technology firms, such as […]

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Retail Asia20/05/2021

A consortium led by Chinese e-commerce giant Alibaba will invest $400 million in the subsidiary of conglomerate Masan Group that operates retail chain VinMart. The consortium, including Baring Private Equity Asia, one of the largest private equity firms in Asia, has signed an agreement to acquire a 5.5 percent stake in The CrownX, a deal […]

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Retail Asia11/05/2021

Lychees grown in Hai Duong Province will be sold on e-commerce platforms Voso, Sendo, Lazada, and China’s Alibaba on Saturday, according to the Vietnam Trade Promotion Agency. It would be the first time that the fruits are sold online, and the agency said the biggest hurdle to this is farmers’ lack of knowledge of e-commerce, […]

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Retail Asia13/04/2021

China’s market regulator, fresh from fining e-commerce giant Alibaba US$2.75 billion, said on Tuesday it warned nearly three dozen internet companies to stop using any banned practices such as forcing vendors to use their platform exclusively. The State Administration for Market Regulation (SAMR) said it summoned 34 companies including Tencent, ByteDance and JD.com for a […]

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Retail Asia13/04/2021

Chinese regulators have fined Alibaba 18 billion yuan ($2.75 billion) – around 4 percent of its revenues in 2019 – for violating anti-monopoly rules and abusing its dominant market position. The State Administration for Market Regulation (SAMR) said that after an investigation launched in December, it had determined that Alibaba Group had been “abusing market […]

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Retail Asia18/03/2021

Chinese e-commerce giant Alibaba wants to have over 10,000 Vietnamese small and medium-sized enterprises selling on its platform by 2025. Its government relation and business development manager, Vu The Tung, who revealed this at a ceremony to sign a memorandum of understanding with the Vietnam Trade Promotion Agency on Tuesday, said his company would help […]

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Retail Asia17/03/2021

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Beijing has reportedly told the Chinese e-commerce conglomerate Alibaba to divest its assets in the media sector out of concern over the company’s growing public influence. Its founder, Jack Ma, the ebullient and unconventional billionaire who officially retired from Alibaba in 2019 but remains a large shareholder, has been in authorities’ crosshairs in recent months. In November, […]

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Retail Asia04/02/2021

China’s Alibaba Group Holding Ltd beat estimates for third-quarter revenue on a pandemic-driven jump in e-commerce, but its shares dropped amid regulatory heat for founder Jack Ma’s business empire. It also announced a bond sale worth as much as $5 billion through sources have said plans for the fundraising were in the works before the […]

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Retail Asia21/01/2021

Alibaba Group founder Jack Ma met 100 rural teachers in China via a live video meeting on Wednesday morning, in the businessman’s first appearance since October. Social media speculation over the whereabouts of China’s highest-profile entrepreneur swirled this month after news reports that he missed the final episode of a TV show featuring him as a […]

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Retail Asia08/01/2021

Just weeks before the end of the current U.S. administration, authorities are reportedly discussing the expansion of a blacklist of companies linked to China’s military with the inclusion of major tech giants, Alibaba and Tencent. Discussions considering the inclusion have been underway for a few weeks amongst State and Defense Department officials, according to a report citing […]

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