Chinese ecommerce titan Alibaba enjoyed record sales during its Singles Day shopping extravaganza, giving a much-needed boost to the firm after a torrid year in which it became the symbol of a government crackdown that hammered the country's tech sector. The firm said 540.3 billion yuan (84.5 billion dollars) was spent as China's army of...
Nov 12, 2021
On the eve that China and the U.S. signed a deal to curb greenhouse gas emissions, the Double 11 gala, better known as Singles Day, the Alibaba annual online shopping bonanza, kicked off in China. This is the first retail event since China began clamping down on surging corporate profit and tech giants, but the contrast between the highly...
Nov 11, 2021
China’s Singles Day, also known as 11.11 or Double 11, started in 1993 at Nanjing University as a day for students to celebrate their singledom. In 2009, Alibaba transformed the holiday from an “anti-Valentine’s Day” for Chinese singletons to the “11.11 Global Shopping Festival,” which now also sees JD.com participate with its own multi-day...
Nov 12, 2020
Chinese e-commerce leader Alibaba said Thursday that net profit increased 58 percent in the latest quarter, citing another record "Single's Day" sales promotion in November and growth in cloud computing. Net profit reached 52.3 billion yuan (7.5 billion dollars) in the October-December third quarter. Alibaba dominates China's consumer culture...
Feb 13, 2020
China enjoyed a better-than-expected pick-up in the key retail and industrial sectors in November, data showed Monday, providing a further boost to Beijing after finally agreeing a mini trade pact with the United States last week. The readings come at the end of a tough year for the world's number two economy, which is expanding at its weakest...
Dec 16, 2019
New York - U.S. shoe brand Allbirds has participated in Alibaba’s 11.11 Global Shopping Festival for the first time. Allbirds released two special-editions of its signature sneakers to mark its debut on the Singles Day shopping event after opening its flagship store on Alibaba Group’s e-commerce platform Tmall in April. “Instead of relying on...
Nov 16, 2019
Chinese online retail titan Alibaba has been given the go-ahead to list shares in Hong Kong, reports said Wednesday, in what could be the city's biggest IPO in almost a decade. Approval for the sale will also give the city's financial authorities a huge boost as Hong Kong is battered by months of pro-democracy protests that have tarnished its...
Nov 13, 2019
British fashion brand Boden is celebrating success in China after record sales over the Singles' Day event on Tmall. The brand ranked number two for childrenswear brands on Tmall Global and recorded a 120 percent uplift in sales on last year. Total sales this Singles' Day were more than double than last year, added Boden, and the most popular...
Chinese shoppers set new records for spending during the annual "Singles' Day" buying spree despite an economic slowdown and worries over the US trade war, with state media calling it a sign of China's rising economic strength. E-commerce giant Alibaba said consumers spent 38.3 billion US dollars on its platforms on Monday during the world's...
Nov 12, 2019
Chinese consumers closed in on a new spending record Monday during the annual "Singles' Day" frenzy, the world's biggest 24-hour shopping event, which kicked off this year with a glitzy show by US megastar Taylor Swift. E-commerce leader Alibaba said that within the first 12 hours, nearly 192 billion yuan (27.4 billion US dollars) had been spent...
Nov 11, 2019
The world's biggest shopping extravaganza is not Black Friday or Cyber Monday. Neither is it Christmas, Boxing Day or anything to do with retail giant Amazon. The shopping festival that surpasses all sales by numbers is China's Singles Day on Alibaba's platforms and it is happening this weekend. The 10th anniversary of Singles Day will occur on...
Nov 9, 2018
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...
Nov 6, 2018
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