Actionable news
0
All posts from Actionable news
Actionable news in BABA: ALIBABA GROUP HOLDING LIMITED,

Alibaba Group Launches 2015 11.11 Global Shopping Festival

HANGZHOU, China--(BUSINESS WIRE)--Today, Alibaba Group (NYSE: BABA) officially launched its 2015 11.11 Global Shopping Festival in a ceremony at its Hangzhou, China, headquarters. At the event, Alibaba outlined its international strategy to serve as the “gateway to China” for brands worldwide. Representatives from 39 countries, more than 40 partnering international brands, and nearly 30 fresh food associations from around the world were in attendance. Alibaba Group executives Jack Ma, executive chairman, Daniel Zhang, chief executive officer, and Michael Evans, president, addressed the key priorities and goals of this year’s 11.11 festival.

“China’s consumption power will rise quickly and that will not only drive China’s economy but also the world’s economy.”

With the Chinese consumption economy as the main backdrop and driving force behind the world’s largest shopping event, Jack Ma offered his insights and shared his optimism with the audience. “There are currently 300 million middle class in China, and that number will rise to 500 million in 10 to 15 years. This will be an opportunity for every nation,” he said. “China’s consumption power will rise quickly and that will not only drive China’s economy but also the world’s economy.”

Zhang, who was instrumental in creating the first 11.11 sales event in 2009 when he led Tmall.com, said, “Over the past six years, 11.11 has evolved from a marketing event for online shopping into a global phenomenon that involves consumers in China and around the world. This year’s 11.11 will focus on four key themes: omni-channel, mobile, logistics and globalization. 11.11 showcases the scalability and power of Alibaba’s entire ecosystem. Only Alibaba can deliver a comprehensive e-commerce experience at the...


More