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Alibaba acquires controlling stake in Sun Art

Alibaba Group Holding Limited announced it will invest approximately US$ 3.6 billion in respect of Sun Art Retail Group Limited, a leading hypermarket and supermarket operator in China, that will raise its aggregate direct and indirect stake to approximately...

Jack Ma steps down as Alibaba’s Chairman

Alibaba co-founder Jack Ma is stepping down as Chairman of the multi-billion dollar e-commerce behemoth on Tuesday as the company celebrates its 20th anniversary.Ma, who turned 55 on Tuesday, announced last year that he would retire within a year,...

Alibaba generates record US$ 31 billion during Singles’ Day sale

Chinese e-commerce giant Alibaba on Monday announced generation of whopping US$ 30.8 billion in terms of Gross Merchandise Value (GMV) during Singles' Day sale -- the 24-hour annual shopping event -- held on November 11, beating the last year's...

Alibaba CEO Zhang to succeed Jack Ma as Chairman

Chinese e-tailer Alibaba Group's Chief Executive Daniel Zhang will be the new chairman, succeeding its co-founder Jack Ma from September 10, 2019, the global firm announced on Monday."Ma will continue as the executive chairman of the company over the...

Alibaba acquires Pakistan’s e-commerce company Daraz

China's e-commerce giant, Alibaba has made its entry into Pakistan by acquiring one of the country's biggest e-commerce companies, the Daraz Group.According to a PTI report: With the acquisition, the Jack Ma-led group has also expanded in four other...

Alibaba to acquire full ownership of China online delivery platform Ele.me

Alibaba Group Holding Limited has announced that the company will acquire all outstanding shares that it does not already own in Ele.me, a leading online delivery and local services platform in China, in a transaction that implies the enterprise...

Alibaba Group, Auchan Retail and Ruentex form new retail strategic alliance

Alibaba Group Holding Limited, Auchan Retail and Ruentex Group has announced a strategic alliance that brings together their online and offline expertise to explore new retail opportunities in China’s food retail sector. As part of this strategic alliance, Alibaba Group...

India very important for Alibaba, says CEO

India is a "very important" market to the Chinese e-commerce giant Alibaba in its global strategy, the Chief Executive Officer of the company said here on Saturday. "Globalisation is one of our key strategies for Alibaba. As part of this...

Alibaba's Singles' Day fest sale hits US $25bn

The Chinese e-commerce major Alibaba grossed over US $25 billion in its 24-hour long 11.11 Global Shopping Festival on Saturday. The company sold US $25.38 billion (168.2 billion Chinese Yuan) worth of goods within 24 hours of its annual sales...

Alibaba increases stake in e-commerce platform Lazada

Alibaba Group Holding Limited (NYSE: BABA) announced that it will invest approximately US $1 billion to increase its stake in Lazada Group, the leading e-commerce platform in Southeast Asia, from 51 per cent to approximately 83 per cent. This transaction demonstrates the...
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Yousta opens first high-street store in Mumbai

Yousta recently opened a store at Phoenix Marketcity, Viman Nagar in Pune, its second in the city New Delhi: Reliance...
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