Alibaba Group news

As Amazon rebrands Souq to its own name, UAE-based LuLu continues its expansion in the region and AliExpress prepares to launch Ramadam sale, we round up news from the region. Amazon rebrands Souq Almost two years after acquiring Souq.com Amazon has rebranded the site under its own name. Visitors to Souq, except those from Egypt and Saudi Arabia, are being redirected to the Amazon.ae si...

The Japan External Trade Organisation is offering small to medium-sized domestic retailers free access to global ecommerce platforms to help them sell products in 18 markets abroad. Supporting smaller retailers grow online The initiative is expected to increase trade for local businesses, maximising the global popularity of Japanese products around the world. Twenty four ecommerce operators...

As AliExpress and LuLu launch new promotions, competition rises online and in grocery retailing more widely in the UAE we round up news from the region. AliExpress celebrates anniversary in Saudi Arabia… To mark its ninth year of operation in the country, AliExpress is set to launch an anniversary sale that will enable shoppers to enjoy discounts of up to 50% across a range of 100m products...

As an important move to capitalise on China’s massive tourism market and offer Chinese travellers a holistic travel experience, Alibaba is launching a new shopping platform called Fliggy Buy. An innovative new service The service allows Chinese travellers to choose from a range of products, including cosmetics, suitcases, bags and alcohol, prior to their international travel. They can then ...

Alibaba has outlined two initiatives to bring US$200bn worth of international products into China over the next five years. Offering new opportunities for suppliers from around the world One of Alibaba's core missions is to make it easy to do business anywhere. In China, it looks to help different businesses enter the market and trade successfully. One route to market for suppliers is Tmall...

As South Africa-based Pick n Pay launches a new campaign, its operations in Namibia add an ecommerce solution and companies in Kenya and Nigeria add new digital capabilities, we round up news from the region. Pick n Pay spotlights small suppliers in South Africa Pick n Pay has launched an initiative to put the spotlight on small suppliers in its home market. The campaign, called ‘Meet the M...

China’s major hypermarket operator Sun Art Retail Group Ltd, set up by Auchan and Ruentex and backed up by Alibaba, reported a 7.3% fall in 2018 profit. Missing market expectations The retailer reported its net profit fell to RMB2.59bn (US$386m) from RMB2.79bn (US$386m). This was below the expected RMB2.70bn. Turnover fell by 2.9% to RMB99.36 bn and same-store sales fell 1.72% year-on-year....

Ant Financial, an Alibaba subsidiary and the operator of AliPay, is acquiring a UK based money transfer company WorldFirst for more than £500m (US$640m). Global expansion This deal marks Ant's biggest Western expansion, boosting its global presence significantly. It would help Ant and AliPay to increase its  customer base globally to enhance cross-border money transfer capabilities of Alipa...

Alibaba Group Holding Limited announced its financial results for the quarter ended 31 st December 2018. Growth driven by technology The company had another strong quarter. In the press release, Daniel Zhang, CEO of Alibaba, commented that “ Our resilient operating and financial performance is a direct reflection of our persistent focus on better serving our growing base of nearly 700 mill...

RedMart, an online grocery platform, was acquired by Lazada in 2016, but kept it as a separate business until now. It will be integrated into Lazada’s platform in March, allowing shoppers to buy both groceries and other products on Lazada in the same location. Shoppers will need to download Lazada app RedMart shoppers can continue using the existing app until 11:59pm on 14 th March, before...