E-tailer Alibaba triples profits

E-tailer Alibaba triples profits

Chinese group of online platforms Alibaba saw its net profits rise to 510 million euro in the first quarter of 2013. That is three times as much as in the same period of the previous year.

Worth 48 billion dollar

CEO Jack Ma said in 2012 he wanted to go public with Alibaba within five years. The total worth of the group, which focuses on B2B and B2C platforms, is currently estimated at about 48 billion dollar.

 

The worth of Alibaba is also influenced by the growth of the Chinese market and that market is far from mature and thus has some potential left in it. In the first quarter sales of the company ended up at 1.07 billion euro, 71% more than in 2012.

 

Commotion about Tienanmen statement

The results of Alibaba were announced by American Yahoo, which has an interest of 24% in the Chinese online player.

 

Meanwhile an online petition is asking CEO Jack Ma to apologise for a statement he made in 1980 during the violent crackdown of the protest on Tienanmen Square in Beijing. He had said party leader Deng Xiaoping had acted decisively.

Questions or comments? Please feel free to contact the editors


Alibaba invests billions in physical retail

28/08/2017

Over the past two years, Chinese eCommerce giant Alibaba has spent nearly seven billion euro in physical retail. Its Hema Xiansheng chain already has thirteen supermarkets and it acquired luxury department store Intime from the government in January.

Alibaba exceeds expectations

17/08/2017

Chinese Alibaba has trumped analysts’ turnover and profit expectations with its first quarter results. Its profit even doubled compared to the year before.

Aldi will home deliver in the United States

16/08/2017

German discounter Aldi is starting one-hour deliveries for online orders in the United States, using startup Instacart. Amazon’s reaction was swift: it will test lockers in which custumers can collect items two minutes after ordering them.

Yoox-Net-a-Porter thrives thanks to mobile surge

03/08/2017

Online retailer Yoox-Net-a-Porter has managed to beat analysts’ expectations in the past fiscal year, thanks to a surge in mobile sales. For the first time ever, these sales contributed more than half of the retailer’s total turnover.

Lidl constructs new distribution center in Venlo

01/08/2017

Lidl will open a new distribution center in Venlo, which will cater its web shop’s customer base. The distribution center is not a Lidl Netherlands project, but apparently an international project.

Amazon places own pick-up lockers at consumers' homes

31/07/2017

Amazon announced The Hub, a system of pick-up lockers that can be placed everywhere. They come in different sizes and can be placed both inside or outside of buildings.

Back to top