Alibaba to double Tmall brands
Alibaba launched an English-language website for its Tmall marketplace aimed at merchants.
Chinese e-commerce giant aims to double the number of international brands on the platform in the next three years
Stocks impacted: Alibaba (BABA)
According to the official statement by the company, it wants to make Tmall more appealing and accessible to niche, small- and medium-sized brands from other countries. As a reminder, the marketplace currently hosts 20,000 international brands across 77 countries and regions. Initially, interested brands were able to get in touch with Alibaba mainly through trade shows, personal introductions, or its Chinese-language website. The new English-language portal will eventually be available in other languages such as Spanish and Japanese. Alibaba stocks closed 1.35% lower in Asia and could rise on the news on Thursday.
Make profit on it right now!