Alibaba sets new records with the 11.11 Global Shopping Festival
The Alibaba Group launched the 11.11 Global Shopping Festival 2017, a one-day global online shopping promotion earlier this month on November 11. It set a record of reaching half a billion new customers and generated US$25.3 billion (Bt839 billion) in sales in a single day.
L’Oréal adopts New Retail in Collaboration with Alibaba
Cosmetics Company L’Oréal has emerged as an early adopter of’ New Retail’ in China. New Retail is a concept from Alibaba for the business model that integrates E-Commerce, Stores and Logistics by seamlessly weaving online and offline shopping into one experience.
Alibaba buys major stake in hypermarket operator Sun Art
In an attempt to integrate online and offline shopping without building its own physical stores, Alibaba has been on a lookout for buying stake in companies. The Chinese e-commerce giant has bought more than one-third stake in one of Chinese most prolific operators of hypermarket stores, Sun Art Retail Group.