By March 2023, Alibaba had lost three quarters of its value from the peak in October 2020, as the e-commerce giant, once seen as China’s answer to Amazon.com, faces questions on whether it can recapture its former glory while dealing with China’s economic slowdown, regulatory scrutiny and fierce competition from old and new rivals. The … Read more
Alibaba Group Holding is integrating the services of its online wholesale marketplace 1688 with its flagship consumer shopping platform Taobao, as the e-commerce giant continues to consolidate assets amid internal restructuring and rising competition. Taobao has recently featured three online stores under the 1688 name as it pushes to win over new users, according to … Read more
Sun Art Retail Group, controlled by Alibaba Group Holding, has appointed a new chief executive as the e-commerce giant continues to consolidate its retail assets amid a restructuring and rising market competition. Hong Kong-listed Sun Art, a hypermarket business, said in a stock exchange filing on Tuesday that Lin Xiaohai, fomer chief executive officer and … Read more
“Reluctantly, we will bid farewell to many valued members of the Daraz family,” acting chief executive James Dong said in an internal memo published on the company’s website on Tuesday. Alibaba, owner of the South China Morning Post, acquired Daraz in 2018. “Despite our efforts to explore different solutions, our cost structure continues to fall … Read more
“In the future, internet companies need to be more open-minded and inclusive to promote truly win-win cooperation in the industry,” the Securities Times article said. Increased collaboration between China’s major internet companies are expected to not only benefit consumers, but help further expand the industry, according to state media. Photo: Shutterstock While China’s gross domestic … Read more
The Taobao and Tmall Group (TTG) unveiled the new AI features, which are designed to improve services and attract new customers, at its “sellers’ conference” held on Tuesday in Hangzhou, capital of eastern Zhejiang province and home base of South China Morning Post owner Alibaba. TTG said AI models would be employed to transform Dianxiaomi, … Read more
Alibaba Group Holding’s decision to put its e-commerce and cloud units under a single chief executive is set to make China’s largest online market more technology-driven and consumer-oriented as it seeks to fend off rising competition, according to analysts. Alibaba, owner of the South China Morning Post, on Wednesday named Eddie Wu Yongming, the co-founder … Read more
