Alibaba news and archive

Alibaba plans to list logistics arm in Hong Kong IPO

Chinese e-commerce giant Alibaba said Tuesday it intends to spin off its logistics arm Cainiao through an initial public offering in Hong Kong as the firm undergoes a massive restructuring. After years of turbulence in the Chinese tech sector, Alibaba announced in March it was dividing itself into six entities, with the goal of listing them...

Retail

Vagabond Shoemakers expands in Asia with Tmall

Swedish footwear brand Vagabond Shoemakers is expanding within the Asian market with a concept store on the Chinese e-commerce platform Tmall, part of the Alibaba Group. The concept store launches with the brand’s autumn/winter 2023 collection as the footwear brand looks to expand its reach within Asia, adding to its recent collaboration with a...

Business

Alibaba announces surprise departure of ex-CEO

Beijing - Chinese e-commerce giant Alibaba has announced the surprise departure of former CEO Daniel Zhang, who had been set Monday to take charge of a key subsidiary as the firm undergoes a major restructuring. Hangzhou-based Alibaba is one of China's most prominent technology firms, with business operations spanning cloud computing,...

Business

Alibaba announces unexpected 14 percent increase in quarterly revenue

Beijing - Chinese e-commerce giant Alibaba announced an unexpected 14 percent on-year increase in quarterly sales on Thursday, following several difficult years and in spite of a broader economic slowdown. Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform. The Hangzhou-based group's...

Business

Alibaba expands into Europe with CommerceHub partnership

CommerceHub, one of the world’s largest commerce networks, is partnering with Miravia, part of the Alibaba group, to power the marketplaces’ European expansion. The partnership involves integrating CommerceHub's ecommerce platform with Miravia's operations, supporting Miravia's aim to establish itself as a premier everyday ecommerce ecosystem...

Report

Chinese tech giant Alibaba names new CEO, chairman

Chinese tech giant Alibaba said Tuesday it will replace its top boss, in a surprise move at the e-commerce titan as it looks to recover from years of slow growth caused by weak consumer spending and a regulatory crackdown. The move comes as the market leader prepares to undergo a fundamental reorganisation of its sprawling business operations,...

Business

Alibaba and L’Oréal partner on promoting a circular economy in China’s beauty market

Marketplace giant Alibaba has signed a three-year partnership with cosmetics conglomerate L’Oréal which will centre around the promotion of a circular economy in China’s beauty industry. The signing ceremony took place alongside French president Emmanuel Macron’s three-day visit to the country, during which Alibaba’s chairman and CEO, Daniel...

Report

Alibaba to split into 6 groups, separate IPOs expected

Alibaba announced Tuesday that it would split into six business groups in one of the most significant overhauls of a leading Chinese tech firm to date. The Hangzhou-based firm is one of China's most prominent tech giants, with business operations spanning cloud computing, e-commerce, logistics, media and entertainment, and artificial...

Schools

Alibaba launches new edition of Global E-Commerce Challenge competition

Alibaba wants to recruit young talent for the development of its international e-commerce business. To do so, the Chinese giant has launched a new edition of its Global E-Commerce Challenge competition, which is aimed at students from all over the world. Based on simulations of problems that could be encountered by Alibaba's Global Digital...

Business

Alibaba quarterly revenue rises 2 percent

Beijing - China's Alibaba Group said Thursday its revenue rose two percent year-on-year in the quarter ending December 2022, as the internet giant shook off the impact of strict Covid containment measures and a slump in consumer demand. The company recorded revenue of 248 billion yuan (36 billion dollars) for the three months through December,...

Business

China's Alibaba joins global chatbot race

Beijing - Chinese e-commerce giant Alibaba said Thursday it was working on a rival to ChatGPT, joining a flurry of global tech firms rushing to match the popular AI-powered chatbot. ChatGPT has sparked a gold rush in artificial intelligence technology, with Microsoft, Google and China's Baidu all working to develop chatbots that can mimic human...

Report

Alibaba co-founder to relinquish control of Ant Group

Jack Ma, co-founder of Chinese e-commerce giant Alibaba, is to give up control of of Ant Group, after a government crackdown on powerful companies and individuals. For the past two years there has been much talk of Mr Ma divesting his stake, with the Ant Group valued last year between 75 and 150 billion dollars before its IPO was halted. Ant...