Taobao and Tmall Group, Alibaba’s domestic e-commerce business unit, launched at 8pm on Monday the presale stage of its promotion for Singles’ Day – also known as 11.11 or Double 11, referring to the shopping extravaganza originally observed on November 11 – as the company anticipates a record-high volume of users taking part in this … Read more
Temu’s website in Vietnam, however, showed that the company’s foray into one of the fastest-growing economies in the region was apparently rushed. It currently supports only English as well as transactions made via credit card and Google Pay, while excluding leading Vietnamese mobile payment service Momo. In affluent Brunei, Temu is available in both English … Read more
Alibaba Group Holding’s main e-commerce unit has rejected an average of over 400,000 refund requests from consumers per day in the past two months, according to data from Taobao and Tmall Group (TTG), in a pivot to balance the interests of merchants and consumers. The practice of “refund without return” has gained popularity thanks to … Read more
Hong Kong has become the new battleground for Chinese e-commerce giants Alibaba Group Holding and JD.com, as they search for new growth opportunities amid stiff competition on the mainland. Both companies last week announced heavy investments into the Hong Kong market, waiving delivery fees for certain orders and boosting related services such as local product … Read more
NEW HORIZONS: Most designers like to celebrate after their runway show, but Gabriela Hearst marked her return to Paris Fashion Week with a party two days before the event. The New York-based designer teamed with Michael Kliger, chief executive officer of e-commerce platform Mytheresa, to host what was billed as a “supper club evening” at … Read more
“Alibaba may gradually become more attractive to some long-only funds because it is, after all, the largest e-commerce stock in China,” said Shawn Yang, senior analyst at Arete Research. “The expectations of macro improvement may be passed on to these consumer stocks. Alibaba is the largest among them, and its situation is improving.” Alibaba, owner … Read more
Alibaba Group Holding has earmarked 1 billion yuan (US$142 million) to waive delivery charges on Taobao users in Hong Kong for each order that costs more than 99 yuan during this fourth quarter. The three-month campaign covers categories such as fashion accessories, electronics, skincare and cosmetic products on Taobao, according to Alibaba, owner of the … Read more
US digital payments platform PayPal is stepping up efforts to support Chinese cross-border merchants with the launch of new services in Shenzhen, tapping into booming exports from the country despite economic headwinds. PayPal’s China business recorded double-digit growth in the past year, Hannah Qiu, senior vice-president and China CEO of PayPal, said at a company … Read more
As Stitch Fix continues to try mending itself, the online fashion company’s fiscal fourth-quarter earnings update looked mixed at best with some areas beating expectations and others setting off investors’ nerves. On Tuesday, the San Francisco-based online styling service reported revenue of $319.6 million over the three months ending on Aug. 3. Net loss clocked … Read more
Alibaba Cloud, the digital technology backbone of the e-commerce giant, announced the release of more than 100 of its newly launched Qwen 2.5 LLMs to the global open-source community at the opening of the three-day Apsara Conference, its annual flagship event that runs until Saturday. Alibaba owns the South China Morning Post. “Alibaba Cloud is … Read more
