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The global fashion business journal

24 May 201902:06

Alibaba takes Singles Day beyond China to surpass 25.3 billion dollars in revenues

The event, which takes place on November 11 and offers thousands of products with discounts, marks its tenth anniversary this year. Singapore, Malaysia, Thailand, Indonesia, Philippines and Vietnam are the countries on the group’s radar.

24 Oct 2018 — 18:15
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Alibaba takes Singles Day beyond China to surpass 25.3 billion dollars in revenues

 

 

Alibaba wants to have a Singles Day everywhere in Asia. The ecommerce group is looking to expand the reach of its largest shopping day beyond China this year, which marks the tenth anniversary. More concretely, the company is going to organize Singles Day in Singapore, Malasia, Thailand, Indonesia, Philippines and Vietnam through LazMall and Lazada Marketplace platforms.

 

Through the initiative, Alibaba aims to surpass the 25.3 billion dollars (22 billion euros) in revenues registered during last year’s shopping event. In comparison, sales during Black Friday in the United States reached 5 billion dollars (4.36 billion euros), according to Drapers.

 

Alibaba also wants to integrate 20,000 independent retail stores so that they can trade their off-price products online through the group ecommerce platforms. In addition, Tmall launched over 500,000 fashion items for pre-orders on October 20.

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