Latest news with #JiangFan
South China Morning Post
05-08-2025
- Business
- South China Morning Post
Alibaba seeks to reclaim e-commerce dominance in China with cross-service loyalty scheme
Alibaba Group Holding is set to launch a new membership programme spanning a range of services from an online marketplace to food delivery and travel booking, according to Chinese media reports and a person with knowledge of the matter, as the tech giant strives to recapture its leading position in China's competitive e-commerce market. Advertisement Alibaba's e-commerce group, led by Jiang Fan , will provide members of Taobao – China's largest online marketplace – with subsidised access to various other company services, including the on-demand delivery app online travel agency Fliggy and grocery chain Freshippo, according to Chinese media reports. The development was first reported by Chinese financial news portal A source, who declined to be named as the information is not public, confirmed the programme's coming launch. Alibaba, owner of the Post, did not respond to a request for comment on Tuesday. An delivery man in Beijing. Photo: Simon Song The planned move would follow the merger of and Fliggy into the e-commerce group. Initiated in late June, the restructuring 'marks a strategic upgrade from an e-commerce platform to a comprehensive consumer platform', Alibaba CEO Eddie Wu Yongming said in a letter to employees. Advertisement According to Sina's report, Alibaba also planned to enhance its 88VIP membership scheme, which offered benefits like free delivery for returns. Touted as China's largest paid e-commerce loyalty programme, it had more than 50 million subscribers as of March.
Bloomberg
27-06-2025
- Business
- Bloomberg
Alibaba Elevates E-Commerce Chief, Shrinks Key Leadership Body
Alibaba Group Holding Ltd. elevated e-commerce head Jiang Fan while trimming the members of a longstanding leadership body, as the Chinese tech giant pivots toward AI and overseas expansion. Jiang, who runs core Alibaba businesses including Taobao and Tmall, has joined a five-member Partnership Committee that in turn steers a group of partners that sit atop the company. That group, which nominates company directors among other things, has shrunk to 17 from 26 members, Alibaba said in its annual report released Thursday. The 39-year-old Jiang becomes the youngest member of the powerful body, which includes Chairman Joe Tsai and CEO Eddie Wu.
Yahoo
25-06-2025
- Business
- Yahoo
Alibaba Group (BABA) to Combine Ele.me and Fliggy to its Core E-Commerce Business
Alibaba Group Holding Limited (NYSE:BABA) is one of the 10 Best and Cheap Stocks to Buy Now. On June 23, the Wall Street Journal reported Alibaba Group Holding Limited (NYSE:BABA) is combining its food-delivery platform and online travel services platform Fliggy to its core e-commerce business. This is a strategic move that realigns the company's resources towards its core revenue driver and develops a stronger delivery network. Alibaba Group Holding Limited (NYSE:BABA) has been facing serious competition from competitors like and Meituan, this move indicates that the company is fortifying its delivery network. Following the folding, the CEO of and Fliggy will directly report to Jiang Fan, who leads Alibaba's E-commerce Business Group. An e-commerce platform displaying a wide range of products to customers online. The company in April also launched a new rapid delivery feature on its shopping platform, Taobao. 'This marks a strategic upgrade as we evolve from an e-commerce platform into broader consumer-focused platform,' said Eddie Wu Yongming, Chief Executive of Alibaba Group Holding Limited (NYSE:BABA). While we acknowledge the potential of BABA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None.
Yahoo
25-06-2025
- Business
- Yahoo
Alibaba Group (BABA) to Combine Ele.me and Fliggy to its Core E-Commerce Business
Alibaba Group Holding Limited (NYSE:BABA) is one of the 10 Best and Cheap Stocks to Buy Now. On June 23, the Wall Street Journal reported Alibaba Group Holding Limited (NYSE:BABA) is combining its food-delivery platform and online travel services platform Fliggy to its core e-commerce business. This is a strategic move that realigns the company's resources towards its core revenue driver and develops a stronger delivery network. Alibaba Group Holding Limited (NYSE:BABA) has been facing serious competition from competitors like and Meituan, this move indicates that the company is fortifying its delivery network. Following the folding, the CEO of and Fliggy will directly report to Jiang Fan, who leads Alibaba's E-commerce Business Group. An e-commerce platform displaying a wide range of products to customers online. The company in April also launched a new rapid delivery feature on its shopping platform, Taobao. 'This marks a strategic upgrade as we evolve from an e-commerce platform into broader consumer-focused platform,' said Eddie Wu Yongming, Chief Executive of Alibaba Group Holding Limited (NYSE:BABA). While we acknowledge the potential of BABA as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fashion Network
16-05-2025
- Business
- Fashion Network
Alibaba misses revenue estimates as it fights for China e-commerce market dominance
Alibaba's rival beat first-quarter revenue estimates on Tuesday and said it was seeing strong user growth despite the prolonged economic weakness weighing on consumer sentiment. Chinese shoppers, grappling with a prolonged property crisis and a cloudy economic outlook, have increasingly become cost-conscious, prompting deep discounts and rock-bottom prices to stimulate spending. That has sparked a price battle among China's largest online e-commerce platforms including Alibaba, PDD Holdings' Pinduoduo and as they jostle for market share. Alibaba's domestic e-commerce business Taobao and Tmall Group produced revenue growth of nearly 9% for the quarter, the group said, attributing this to strong momentum in new consumer growth and a continuing increase in orders. Chinese e-commerce giants have been aggressively expanding into so-called instant retail, focusing on delivery speeds of 30 to 60 minutes, in their battle for market share. Both and Alibaba's platforms have increased incentives to users including coupons to try their expanded instant retail and food delivery offerings. Alibaba E-commerce Business Group Chief Executive Jiang Fan told analysts on a call that Alibaba would be "investing aggressively" in the instant retail business in the short term. "One thing to note about this instant retail market is that it's a huge market," he said. "Today, it could be a market of say 500 to 600 million consumers. Going forward, that can easily become 1 billion consumers." Alibaba's international commerce division (AIDC), which includes cross-border player AliExpress, produced 22% in revenue growth, though that missed forecasts for 26.4% growth. "International business missed but I'm not sure if it was due to AliExpress suffering from tariff impacts," said M Science analyst Vinci Zhang. "I thought it was interesting that they didn't highlight anything related to the U.S... That to me felt a bit deliberate." Alibaba Group CEO Eddie Wu acknowledged "uncertainties in global trade regulations" as a potential headwind, though he added that AIDC remained on track to achieve profitability in the coming fiscal year. Investors are also shifting focus to the "618" festival, one of the biggest annual shopping events in China, which culminates on June 18. Retailers have already started pre-sales. Alibaba's Cloud Intelligence Unit's revenue grew 18% to 30.13 billion yuan. The group has emerged as a leader in China's competitive AI race and the tech giant has consistently released new models throughout the year. It launched Qwen 3 in April, an upgraded version of its flagship AI model that introduces new hybrid reasoning capabilities.
