UK DIY News
Alibaba Creates UK Retail Team
The Telegraph has reported that Alibaba - the Chinese etail giant - has created a small retail team of executives and consultants at its London headquarters, fuelling speculation that it is to expand into the British high street.
The first AliExpress store opened in Spain in August, and it is thought that the UK may be next in line for a bricks and mortar store.
Currently, the London office is focused on ensuring the smooth functioning of the Alipay payment system.
In the last six months, Alibaba has developed an English language website and allowed overseas sellers to sell on its platform, as it seeks to expand into international markets. Burberry, Waitrose and Whittard have all begun selling goods in China via Alibaba's Tmall website.
In China, Alibaba operates more than 150 retail stores, having invested approx £2.2bn on a 36% share in China’s largest grocery chain in 2017.
On Monday 11th November - Singles' Day - Alibaba announced sales of $38.4 billion, up from $30.7 billion in 2018.
Source : Insight DIY Team
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