Alibaba Group news

06 March 2019
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....
15 February 2019
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...
31 January 2019
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...
31 January 2019
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...
21 January 2019
Colgate-Palmolive joins L’Oréal and P&G to make use of the ecommerce giant’s big data for better and quicker product development, whilst mitigating risks at the same time. Colgate: the era of ‘Made for China’ Alibaba Group has teamed with Colgate-Palmolive to launch a new toothpaste aimed at male consumers. The use of big data reduced the development process from the normal 18 months down t...
15 January 2019
China-based Alibaba has launched ‘A100’, a strategic partnership programme. The initiative, according to Alibaba, provides companies with a “holistic one-stop solution to accelerate their digital transformation” . The A100 programme will also help to transform Alibaba into an integrated technology provider for companies around the world. Powered by the Alibaba Operating System… The program...
15 January 2019
China-based Alibaba has launched ‘A100’, a strategic partnership programme.  Transformation into technology provider This initiative, according to Alibaba, provides companies with a  “holistic one-stop solution to accelerate their digital transformation” . The programme will help transform Alibaba into an integrated technology provider for companies around the world. The programme is pow...
14 December 2018
Indonesia’s largest online marketplace receives additional funds from Alibaba. Funds used to extend its presence in the country In its latest funding round, Indonesia’s online marketplace Tokopedia has successfully secured US$1.1bn from Alibaba Group Holding Ltd. as well as SoftBank Group Corp. Recently, Tokopedia has been venturing into financial products such as digital wallets and vir...
13 December 2018
Alibaba’s Southeast Asia ecommerce business, Lazada, has reshuffled its leadership. New CEO as part of succession plan Lazada Group appointed Pierre Poignant as its new chief executive chairman this week as part of its succession planning. Poignant will succeed Lucy Peng, one of the 18 founders of Alibaba, with immediate effect. Peng will remain as executive chairwoman. Second CEO change...
10 December 2018
China-based Alibaba has signed an agreement with the Belgium government to create an ecommerce trade hub. The agreement is part of Alibaba’s Electronic World Trade Platform (eWTP), of which Belgium is the first European country to join. Logistics division Cainiao to invest €75m… Alibaba’s logistics division, Cainiao, will initially invest €75m (US$85m) in the project, which will commence in...