Big success: An employee preparing items for the upcoming Singles Day shopping festival at a logistics centre in Nanjing. Alibaba saw sales worth US$30bil on its platforms on Singles’ Day last year, dwarfing US$7.9bil US online sales for Cyber Monday. — AFP
SHANGHAI: Alibaba Group will kick off its annual 24-hour shopping extravaganza today with deals and deep discounts galore, and a performance by American popstar Taylor Swift to top it all, as it pushes to rake in another record Singles’ Day sales.
This year’s Nov 11 bash comes as the US$486bil Chinese retail juggernaut navigates through a major turning point, the resignation in September of its flamboyant co-founder Jack Ma as chairman, and looks to raise up to US$15bil via a share sale in Hong Kong as early as this month.
Limited time offer:
Just RM5 per month.
