The next-day delivery for European Union countries includes a €2 (US$2.20) service for parcel deliveries to Spain and Portugal, the company announced on Tuesday during its 2024 Smart Global Logistics Summit in Hangzhou, capital of eastern Zhejiang province. A three-day delivery option, which costs from €3 to €5, is also available in other countries in … Read more
US online retailer iHerb is setting up a new warehouse in Hong Kong with Cainiao Smart Logistics Network, the logistics arm of Chinese e-commerce giant Alibaba Group Holding, seeking to boost its order fulfilment capabilities in Asia. The Hong Kong facility, which will be operated by Cainiao, can process up to 15,000 orders per day, … Read more
“Our results this quarter demonstrated our strategy at work. Our focus on enhancing user experience by offering quality products at attractive prices with great service led to stabilising market share of Taobao and Tmall Group as we returned the business on the growth trajectory,” Alibaba CEO Eddie Wu Yongming said in a statement on Thursday. … Read more
Alibaba Group Holding’s cloud computing unit plans to shut down its data centres in Australia and India, as the company prioritises infrastructure spending in other markets. Citing the move as part of its “infrastructure strategy update”, Alibaba Cloud said the decision was made after a “careful assessment” amid new efforts to “expand investment in Southeast … Read more
The Koch family’s deal for a 15% stake in Brooklyn Nets parent BSE Global values the struggling NBA franchise at $3.8 billion – and puts the valuation for the parent company at $5.8 billion, The Post has learned. Julia Koch – the widow of David Koch and one of the richest women in the world … Read more
Chinese ride-hailing giant Didi Chuxing, whose New York initial public offering (IPO) in 2021 triggered a cybersecurity investigation by mainland authorities that led to its delisting and a $1.2 billion fine, said it has no specific timing for its plans to float shares in Hong Kong. “The company has been maintaining regular communications with investors … Read more
About 185 brands – including major smartphone vendors Apple, Xiaomi and Huawei Technologies – have each achieved more than 100 million yuan (US$13.8 million) in gross merchandise value, while 37,000 other brands doubled sales year on year as of 9pm on May 31, the latest data released by Alibaba e-commerce unit Taobao and Tmall Group … Read more
Alibaba Group Holding is selling up to US$5 billion worth of convertible bonds to fund its share buy-backs, as leaders of the Chinese tech giant declared e-commerce and cloud computing as its core businesses in a move “towards strategic clarity”. The Hangzhou-based firm, which owns the South China Morning Post, said it expects to raise … Read more
“So we’re seeing some positive signals, but it is probably still too early to tell because the macro environment is broadly affected by the property sector downturn,” he added. Alibaba owns the South China Morning Post. Eddie Wu Yongming, who took over as chief executive of the domestic e-commerce unit last December, expects Taobao and … Read more
The campaign called “10 billion yuan of subsidies” – a typical mainland marketing phrase used to tout large online allotments – will be given to an initial batch of 1,000 Chinese brands and merchants, including those who have already opened a store on Alibaba’s domestic retail platform Tmall, according to an AliExpress statement on Monday. … Read more
