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Tag: Alibaba

  • Real Madrid Partners with Alibaba Group to Launch its Official Online Store on Tmall Global in China

    Real Madrid Partners with Alibaba Group to Launch its Official Online Store on Tmall Global in China

    Real Madrid, the world’s leading sports club and Tmall Global, an overseas platform and an extension of Alibaba Group’s B2C Tmall.com business in China, jointly announced today the launch of the official online Real Madrid store (https://realmadrid.tmall.hk) for consumers in China. This strategic partnership will allow consumers in China to enjoy a selection of the sports club merchandise including official player jerseys, club apparel for men, women, and children, and club memorabilia.

    The Real Madrid online store is another example of Alibaba Group’s strategy to bring premium foreign brands and products directly to Chinese consumers. Fans of Real Madrid can now directly purchase their favourite and genuine Real Madrid merchandise on the club’s Tmall Global online store.

    The partnership launch ceremony held in Guangzhou today was attended by Jeff Zhang, President of Alibaba Group’s China retail marketplaces, Florentino Perez, President of Real Madrid, and the team’s first string players. Widely known as the most valuable sports club in the world, Real Madrid will work together with Tmall Global to develop their business within China targeted at Chinese consumers.

    Jeff Zhang said: “As one of the world’s most recognizable and popular football brands, Real Madrid is the second football club that has reached a strategic cooperation with Tmall Global, closely following our collaboration with FC Bayern Munich in May this year. Real Madrid and Tmall Global will work together to promote the exciting world of international sport to the Chinese market. As part of our Tmall Global strategy, Alibaba is committed to bringing new cultural experiences and brands on to our China retail marketplaces and we will continue to work with European brands and municipalities to bring the world to Chinese consumers.”

    Florentino Perez said: “Today, we continue to reach out to this incredible country. Today we start a partnership that will strengthen our ties. The best club in the world, Real Madrid, is establishing a strategic alliance with Alibaba’s Tmall Global platform. Initiating this new path is an honour for us, and without a doubt, teams us up with the global player and absolute leader in global ecommerce. This strategic alliance allows us to launch the official Real Madrid store in China for more than 600 million consumers online.”

    The official Real Madrid store on Tmall Global offers a unique player fitting room interactive function so fans can choose outfits and products from their favourite players. In addition, the sports club also has a broad range of lifestyle merchandise from mouse pad and lunch box packs to embrace a complete lifestyle selection for fans to choose from. In the future, Tmall Global and Real Madrid will have special edition or exclusive products targeted for Chinese consumers.

    Real Madrid is the first club in the world to have opened offices in China, headquartered in the Beijing capital. With millions of Real Madrid fans in China, the club aims to reach new fans through Alibaba Group’s China retail platforms.

    About Tmall Global

    Launched in February 2014, Tmall Global (www.tmall.hk) is an overseas platform and an extension of Alibaba Group’s B2C Tmall business, which enables overseas merchants to enter China’s online retail market. By joining Tmall Global, merchants can conduct business from overseas without the need for physical operations within mainland China. International brands on Tmall Global benefit from the exposure to the hundreds of millions of visitors on Taobao Marketplace and Tmall.com. Through Tmall Global, Chinese consumers have access to a variety of branded products sourced and fulfilled from outside mainland China.

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  • Popular Vietnamese eCommerce site Lingo.vn closed down

    Popular Vietnamese eCommerce site Lingo.vn closed down

    Vietnamese eCommerce site Lingo.vn closed suddenly yesterday, without a word of goodbye to its legion of Vietnamese fans.

    The closing of Lingo.vn was clearly a sudden decision, especially as it had been running a promotion on its Facebook page, which was supposed to last until today, (August 3).

    According to an inside source, the company will permanently close the brand and site, and axe 160 of its 190 staff, leaving just 30 to work on another eCommerce site called Topmot.vn.

    The B2C site Lingo.vn was established in August 2011 by VMG Media  after the Japanese company NTT Docomo invested in the company. In 2014, Lingo.vn was separated into Lingo eCommerce, and received funds from Yellow Star Investment, with the expectation it would become the largest eCommerce website in Vietnam.

     

    However, after two years of trying, it seemed Lingo.vn could not achieve commercial viability.

    The exit of Lingo.vn illustrates the cut-throat nature of Vietnam’s eCommerce market. Last year saw the withdrawals of big names such as Deca.vn, mum and kids Beyeu.vn, with the same reason of “not enough investment”. Other sites were sold to foreign corporations: Lazada was sold to Alibaba, Zalora to Thailand’s Central Group, Foodpanda.vn was acquired by local rival Vietnammm.

    lingo

    From another perspective, it seems the investors of Lingo.vn were wise to stop pouring more and more money and resources into a failing business model.

    Meanwhile, Central Group and Lotte Mart have announced they will ramp up their eCommerce projects in Vietnam, hopefully overcoming the barriers that have trapped smaller players.

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  • Alibaba Cloud Expands Thai Presence with New Data Center

    Alibaba Cloud Expands Thai Presence with New Data Center

    Sean Yuan, Vice President of International Business and General Manager of Thailand, Indonesia, Japan, the Philippines, and the South Pacific Region at Alibaba Cloud Intelligence, stated, “Our latest data center strengthens our commitment to providing reliable, secure, and high-performance cloud services tailored to the needs of local businesses. With enhanced local infrastructure, we aim to empower enterprises to leverage the full potential of cloud technology, especially in generative AI applications.”

    With the addition of this new data center, Alibaba Cloud now operates 86 availability zones across 28 regions globally, solidifying its position as a leading cloud service provider in Southeast Asia. The first data center in Thailand was launched in 2022. Alibaba Cloud has over 140 security and compliance accreditations worldwide, ensuring top-tier protection and resilience for its cloud services. With two data centers in Thailand, Alibaba Cloud can provide scalable, elastic, and highly available cloud computing products with enhanced disaster recovery capabilities, all while adhering to strict security and regulatory standards.

    Alibaba Cloud is expanding its range of services to support businesses in Thailand, including elastic computing, storage, database, security, network products, data analytics, and artificial intelligence (AI) services. These services are designed to address specific challenges faced by different industries. By leveraging AnalyticDB’s cloud-native vector engine, businesses in Thailand, especially in the fintech and retail sectors, can create solutions that enhance customer interactions through customized large language model (LLM) applications. This allows companies to efficiently manage structured and unstructured data, develop chatbots, and provide personalized product recommendations, ultimately improving the customer experience.

    Alibaba Cloud’s Container Compute Service (ACS) simplifies workload deployment using Kubernetes, offering a serverless container environment that helps businesses scale their operations efficiently and focus on innovation while managing costs effectively. Alibaba Cloud offers industry-specific solutions tailored to digital-native clients in sectors such as fintech, retail, and public services. These solutions include the Elastic Desktop Service (EDS), eKYC solutions, a SuperApp equipped with development capabilities, and AI-driven sustainability solutions.

    Through partnerships with local companies like True Digital Group, Yell Group, and Codium, Alibaba Cloud has helped enhance operations and services using cloud computing products. These collaborations aim to improve efficiency, scalability, and innovation in various industries. Alibaba Cloud is actively working with local partners and universities in Thailand to support the digital transformation of businesses and foster digital talent. Initiatives include workshops, certified courses, and collaborations with universities to provide training in cloud computing and generative AI, as well as the launch of a global skills center at Chulalongkorn University to offer free training courses, boot camps, AI competitions, and leadership development programs. These efforts aim to enhance educational resources and promote a thriving digital landscape in Thailand.

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  • Alibaba injects US$634 million into Lazada

    Alibaba injects US$634 million into Lazada

    Chinese technology giant Alibaba Group Holding has invested another US$634 million in its e-commerce subsidiary Lazada amid intensifying competition.

    The injection – the group’s third this year – takes its investment in Lazada to more than $1.8 billion.

    Since taking the controlling stake in 2016, Alibaba has poured about $7.4 million into the Singapore-based e-commerce unit.

    This latest move reflects the increasingly fierce competition from major rivals TikTok and Shopee in the Southeast Asian market.

    TikTok, owned by Chinese tech group ByteDance, has announced it would acquire a 75 percent share in Tokopedia, an e-commerce unit of Indonesia’s tech firm GoTo. This will allow it to re-enter the country’s online shopping market following the ban of e-commerce transactions on social media.

    Singaporean tech group Sea, which operates Shopee, has also announced plans to increase investment in its live commerce business, according to Nikkei.

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  • Alibaba records “solid quarter” with revenue growing across segments

    Alibaba records “solid quarter” with revenue growing across segments

    Alibaba Group saw its revenue increase 9 percent year over year to US$30.81 billion for the quarter ended September 30.

    The company’s operating income soared 34 percent to $4.603 billion, with adjusted EBITA up 18 percent to $5.872 billion.

    Taobao and Tmall Group’s revenue was up 4 percent to $13.385 billion, as content and price-competitive strategy drove organic growth of users and order volume increased.

    Alibaba International Digital Commerce Group (AIDC), which operates Lazada, AliExpress, Trendyol, Daraz, Miravia and Alibaba.com, posted a 53 percent increase in revenue to $3.360 billion. AIDC recorded order growth of 28 percent thanks to a solid performance from all major retail platforms.

    Lazada recorded double-digit order growth, with losses per order narrowing both quarter over quarter and year over year.

    Other segments, namely Local Services Group, Cainiao Smart Logistics Network, Cloud Intelligence Group, and Digital Media and Entertainment Group, also saw revenue growths of between 2 and 25 percent.

    For the quarter, the company logged a net income of $3.659 billion, compared to net loss of $3.1 billion in the same quarter of 2022.

    Eddie Wu, CEO of Alibaba Group, said the group delivered a “solid quarter” due to its strategic reorganization.

    “Through a more flexible organizational governance mechanism, we aim to capture brand new opportunities from the ongoing AI technological transformation and create more value for our customers.”

  • Alibaba to double investment in Vietnam

    Alibaba to double investment in Vietnam

    Alibaba.com, the global business-to-business e-commerce platform of Chinese tech giant Alibaba, will double its investment in emerging manufacturing centers in Vietnam and additionally hire hundreds of employees.

    In the next three years, Alibaba.com will complete the establishment of specialized teams to operate in Vietnam’s emerging manufacturing hubs, including Binh Duong, Bac Ninh, Long An, Da Nang and Hai Phong, in addition to the teams already operating in Hanoi and Ho Chi Minh City, Roger Luo, director of Alibaba in Asia-Pacific, announced recently in Ho Chi Minh City.

    “Vietnam is a very important part of our e-commerce development map,” Luo said, pointing out three advantages of this market.

    First, Vietnam has favorable foreign trade policies with many free trade agreements being signs. “Compared to China, Vietnamese-made goods have an advantage. Moreover, the U.S.-China trade war has big influence on Chinese goods, while Vietnamese goods are not affected,” he said.

    Second, labor costs are still low. Third, there are many Vietnamese specialty products.

    “Vietnamese suppliers on our platform are gradually building a reputation with a large number of global buyers, especially in such areas as agricultural products, food, fashion and home garden products,” he said.

    The number of Vietnamese sellers on Alibaba’s e-commerce platform has increased to thousands.

    The number of Vietnamese products available on this platform in March surged by 24% against the same period last year.

    In the first half of this year, Vietnam’s export turnovers stood at US$164 billion, down 12% against the same period last year.

    The situation would be better in the second half of the year because inventory in the U.S. is decreasing.

    “Small and medium-sized businesses need to quickly seize this opportunity by reviving their human resources and strengthening their digital capabilities,” he recommended.

  • Daniel Zhang steps down from top Alibaba Group

    Daniel Zhang steps down from top Alibaba Group

    Alibaba Group has appointed Joseph C Tsai and Eddie Yongming Wu as the company’s new chairman and CEO respectively, marking the group’s one of the most significant organisational changes.

    The appointments will take effect on September 10. Tsai and Wu will succeed Daniel Zhang, who will continue to lead Alibaba Cloud Intelligence Group as chairman and CEO.

    “This is the right time for me to make a transition, given the importance of Alibaba Cloud Intelligence Group as it progresses towards a full spin-off,” said Daniel Zhang, chairman and CEO of Alibaba Group. “The emergence of generative AI has also opened up exciting new opportunities that Alibaba Cloud Intelligence Group is well-positioned to capture.”

    “Daniel has made exceptional contributions to the development of Alibaba Group since joining the company in 2007,” said Tsai, executive vice chairman of Alibaba Group. “He demonstrated extraordinary leadership in navigating unprecedented uncertainties affecting our business over the past few years.”

    Alibaba Group’s newly appointed CEO Yongming Wu, one of the group’s co-founders aside from Jack Ma and Tsai, will continue to concurrently serve as chairman of Taobao and Tmall Group. Wu was the technology director of Alibaba at the company’s inception in 1999. He founded Vision Plus Capital, a venture capital firm focused on investing in advanced technologies, enterprise services and digital healthcare in 2015.

    “Eddie was instrumental in architecting our technology platforms and guiding our strategic direction,” Tsai said. “He led the creation of our proprietary monetization platform on Taobao and Tmall, and drove the launch of the Mobile Taobao App to propel our company to the mobile-first era.”

    The group said last Thursday it is shifting its focus to building local businesses and online platforms outside of China with Europe as the top priority.

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  • Alibaba aims to expand local business in Europe

    Alibaba aims to expand local business in Europe

    Alibaba Group will make Europe top priority as it focuses on building local businesses and online platforms outside China, the president of the e-commerce giant said on Thursday.

    “What we will focus more for the future is to build local businesses, so you will see something called TMall which we have in China become TMall in Europe, which means we will serve local brands and local customers in local markets,” J. Michael Evans told a technology conference in Paris.

    “We have started with a pilot project in Spain which we will expand across Europe,” he said.

    Alibaba announced in March it would split into six units and explore fundraising or listings for most of them, following a two-year regulatory crackdown on China’s tech sector.

    Its e-commerce business is to be split, with one side covering Alibaba’s domestic-facing e-commerce marketplaces and the other its overseas e-commerce marketplaces such as Lazada, which serves Southeast Asia, and AliExpress.

    Taobao and TMall are China’s dominant e-commerce marketplaces in China.

    Asked about Alibaba founder Jack Ma, China’s best known entrepreneur who withdrew from public view in late 2020 after giving a speech criticising China’s regulatory system, he said Ma remained Alibaba’s biggest shareholder and still cared very much about the company.

    Ma left mainland China in late 2021 for stints in Japan, Spain, Australia and Thailand, according to photographs, but returned in March a day before Alibaba announced its restructuring. He has not made any public comments during that period.

    “Jack is alive, he is well, he is happy. He is teaching at a university in Tokyo and spending more time in China,” Evans said.

    “He is the largest shareholder at Alibaba. This is his company, he cares as much about this company today as he did when he started it and I expect this to continue for as long as Alibaba and Jack Ma are here.”

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  • Alibaba group net income soars over 130% in December quarter

    Alibaba group net income soars over 130% in December quarter

    This is despite softer demand as well as supply chain and logistics disruptions.

    Alibaba Group Holdings reported its net income attributable to ordinary shareholders grew by 138% to US$6.78b in the quarter ending in December 2022.

    The company attributed this to the decrease in impairment of goodwill linked to Digital media and entertainment segment.

    “During the past quarter, we continued to improve operating efficiency and cost optimization that resulted in robust profit growth,” Toby Xu, Chief Financial Officer of Alibaba Group, said. “Our net cash position remains strong and we continue to generate healthy cash flow. During the quarter ended December 31, 2022, we repurchased 45.4 million ADSs for approximately US$3.3b under our share repurchase program as part of our ongoing commitment to improve our shareholder return.”

    Over the same period, Alibaba noted its revenue rose by 2% year-on-year to US$35.92b.

    “We delivered a solid quarter despite softer demand, supply chain and logistics disruptions due to impact of changes in COVID-19 measures,” Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group, said.

    “Looking ahead, we expect continued recovery in consumer sentiment and economic activity. We are focused on driving growth for our customers amid the competitive landscape, and creating sustainable, longterm value for our shareholders.”

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  • Tmall launches perfume advising services

    Tmall launches perfume advising services

    Alibaba’s online business-to-consumer retail platform Tmall has launched a perfume advising service, seeking to help consumers with perfume selection and use, the e-commerce giant said in a news release.

    Yves Saint Laurent, Valentino and Prada have piloted the service on their Tmall flagship stores, allowing its customers to chat with “certified perfume consultants,” receive advice on picking a daily scent or receive gifting tips.

    Close to 200 consumers tried out the service on its launch, including many male consumers buying perfumes for Valentine’s Day, the company said.per

    More brands plan to roll out the service in the coming months, said Alibaba

  • Alibaba tests ChatGPT-style tool as AI buzz intensifies

    Alibaba tests ChatGPT-style tool as AI buzz intensifies

    Alibaba Group on Wednesday said it is developing a ChatGPT-style tool that is currently in internal testing, joining a race by tech companies globally to show they are up to speed on generative artificial intelligence (AI) developments.

    The Chinese e-commerce group’s statement came after the 21st Century Herald newspaper reported that Alibaba is developing a ChatGPT-like dialogue robot which is currently open to employees for testing.

    When asked about the newspaper report, which also said that Alibaba might combine the technology with the group’s communication app DingTalk, Alibaba declined to comment.

    The company said it had been focused on large language models and generative AI for a number of years. Large language models are natural language processing systems which are trained on massive volumes of text, and are capable of answering and comprehending questions as well as generating new text.

    Alibaba’s US-listed shares rose 3.2 per cent premarket after the news.

    Shares in a number of other Chinese AI technology companies have soared in the past few days due to investor excitement over Open.Ai’s ChatGPT, which can generate articles, essays and jokes in response to prompts and has been rated the fastest-growing consumer app in history.

    Shares in Chinese search engine giant Baidu jumped by 15 per cent on Tuesday after it said it planned to complete testing of its “Ernie bot” in March. Google owner Alphabet Inc is also planning its own chatbot service and said it will use more artificial intelligence for its search engine.

    Microsoft, which owns Open.AI, plans to tie ChatGPT in with its search engine Bing.

    On Wednesday, another Chinese tech group JD.com said it was looking to integrate some methods and technology similar to ChatGPT’s into some of its products, such as its e-commerce platform’s customer service.

    A source familiar with NetEase told Reuters that the Chinese gaming company plans to deploy similar large language models technology to serve its education business.

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  • Alibaba plans $1 billion investment in Turkey

    Alibaba plans $1 billion investment in Turkey

    Chinese e-commerce giant Alibaba Group Holding Ltd is planning a logistics hub at Istanbul Airport and a data centre near the Turkish capital Ankara with an investment of more than $1 billion, its president, Michael Evans, was cited as saying.

    Turkey’s Sabah newspaper reported Evans as saying in an interview that the company was looking to invest in Europe and the Middle East and that he sees Turkey as a very strong production base.

    “We have a serious investment plan at Istanbul Airport. We can evaluate e-export plans from here to Europe, the Middle East and the Far East. We plan an investment of more than $1 billion,” Evans was quoted as saying.

    Trendyol, one of Turkey’s best known e-commerce platforms, is backed by Alibaba.

    “The reason we chose Trendyol was that its technology was advanced and its potential was great. We are positioning this place as a base for Europe and the Middle East,” he said.

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  • Land compensation for Alibaba victims unlikely

    Land compensation for Alibaba victims unlikely

    Victims of property firm Alibaba, which faces fraud accusations, are unlikely to get compensation in land since the projects it advertised were nonexistent, lawyers familiar with the case said.

    Obtaining cash compensation would be time-consuming due to a large number of victims, they said.

    The Ho Chi Minh City’s People’s Court has identified around VND1.6 trillion ($67.7 million) worth of assets related to allegedly fraudulent activities carried out by Alibaba leadership, namely the company of chairman Nguyen Thai Luyen and his wife Vo Thi Thanh Mai.

    The couple have been accused of fraud and money laundering in relation to 58 property projects in three southern localities. The VND1.6 trillion in question was allegedly obtained by selling illegal and/or non-existent land projects to 4,000 alleged victims.

    This VND1.6 trillion could be used to compensate the victims, said lawyer Truong Anh Tu, but he emphasized that the complex process of distributing the restitution to thousands of allegedly defrauded people – each with their own claims – would be complicated and extremely difficult to put into practice and complete.

    Tu said that some victims are demanding they be compensated with land, meaning they still want to receive land that they bought from Alibaba as part of what were advertised and sold as residential development projects.

    The problem is that Alibaba had no right to sell them the land in the first place. Even though the properties were sold as part of “residential development projects,” the land sold was actually zoned as agricultural land, a fact that can’t be overturned to compensate the alleged victims.

    In Vietnam, agricultural land is eligible only for agriculture. It can’t be sold as anything else and nothing non-agricultural may be built on it without undergoing a long process of rezoning via the process of applying for approval with the government.

    “The contracts that the victims signed are void because they bought into fake residential projects that were made up. They are not real,” Tu said.

    However, many of those who bought land from Alibaba say they still want to use it for the residential development projects that were advertised to them.

    But attorney Vo Dan Mach from Ta Pha Law Firm said the alleged victims can’t use the land they bought for residential development projects because the projects that Alibaba presented to them exist only on paper.

    He added that another major problem is also that because the majority of accusers are actually seeking cash compensation, the VND1.6 trillion in assets simply won’t be enough to compensate all 4,000 of them.

    “Figuring out a way to divide this figure for over 4,000 victims will be complicated,” he said.

    Alibaba was established in 2016 by Luyen, who also formed 22 subsidiaries to invest in 58 residential projects in the southern provinces of Dong Nai, Ba Ria – Vung Tau and Binh Thuan.

    Investigators have concluded that these projects were fake. On paper, each of the projects was attached to agricultural land ineligible for development. But Luyen and his staff advertised and sold them as residential development investments, all the while knowing that launching such developments on agricultural land would be impossible.

    Luyen ordered his employees to illegally collect nearly VND2.4 trillion from 4,560 customers, of which investigators were able to contact 4,065 who had invested a total of VND2.1 trillion.

    A ruling on the case is set to be announced Thursday.

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  • Alibaba to apply for primary listing in Hong Kong

    Alibaba to apply for primary listing in Hong Kong

    Alibaba will apply for a primary listing in Hong Kong and keep its US listing, the first big company to take advantage of a rule change allowing high-tech Chinese firms with dual-class shares to seek dual primary listings in Hong Kong.

    Shares in Alibaba rose 4 percent in Hong Kong upon market opening in response to the news.

    Already present on the Hong Kong bourse with a secondary listing since 2019, Alibaba said it expects the primary listing to be completed by the end of 2022. Chief Executive Daniel Zhang said the dual listing would foster a “wider and more diversified investor base.”

    Seeking a dual primary listing will also allow Alibaba to apply for the Stock Connect scheme that will permit Chinese mainland investors to buy the company’s shares more easily.

    The move comes after the Hong Kong Stock Exchange in January changed its rules to allow innovative Chinese companies with weighted voting rights or variable interest entities (VIE) to carry out dual primary listings in the city.

    Under a VIE structure, a Chinese company sets up an offshore entity for overseas listing purposes that allows foreign investors to buy into the stock.

    “Hong Kong is also the launchpad for Alibaba’s globalization strategy, and we are fully confident in China’s economy and future,” Alibaba CEO Zhang said in a statement.

    Alibaba listed on the New York Stock Exchange in September 2014, marking what was at the time the largest IPO in history.

    In order to switch to a dual primary listing, the HKEX said companies had to have a good track record of at least two full financial years listed overseas, and a capitalization of at least HK$40 billion (US$5.10 billion) or a market value of at least HK$10 billion plus revenue of at least HK$1 billion for the most recent financial year.

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  • China regulator fines Alibaba, Tencent for disclosure violations

    China regulator fines Alibaba, Tencent for disclosure violations

    China has imposed fines on technology giants Alibaba and Tencent, as well as a range of other firms for failing to comply with anti-monopoly rules on the disclosure of transactions, the country’s market regulator, said on Sunday.

    The State Administration for Market Regulation (SAMR) released a list of 28 deals that violated the rules. Five involved units of Alibaba, including a 2021 purchase of equity in its subsidiary, the Youku Tudou streaming platform.

    Tencent was involved in 12 of the transactions on SAMR’s list.

    The firms could not immediately be reached for comment. China’s tech sector has been one of the main targets of a crackdown on monopolistic practices that started in late 2020.

    Under the anti-monopoly law, the maximum potential fine in each case stands at 500,000 yuan ($74,688).

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