Alibaba (BABA) Launches New E-commerce Business Group for Global Growth

Nov 21, 2024

Alibaba Group (BABA, Financial) CEO Wu Yongming announced the formation of a new e-commerce business group in an internal email. Jiang Fan has been appointed to lead this initiative and will report directly to Wu.

The newly established e-commerce business group will integrate Taobao, Tmall Group, International Digital Commerce Group, 1688, and Xianyu, creating a comprehensive domestic and international business network.

This strategic move reflects Wu Yongming's vision as Alibaba's CEO to leverage both domestic and international resources for synergistic growth in the e-commerce sector. It underscores Alibaba's commitment to investing in its core e-commerce operations, enhancing synergistic efficiencies to better support merchants in capturing global market opportunities and achieving substantial growth.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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