Alibaba names a new leader for its three Chinese retail marketplaces
March 10, 2015 05:23 PM
Jeff Zhang, president of Alibaba Group’s Taobao marketplace, is now responsible for two more China-based Alibaba online shopping malls.Zhang will head up a newly created Alibaba China Retail Marketplaces division that encompasses Taobao, Tmall.com and Juhuasuan.
Zhang will report to Alibaba Group’s chief operating officer Daniel Zhang. Taobao Marketplace, Tmall.com and Juhuasuan.com will operate independently but will all report to Jeff Zhang.
Taobao.com, launched in 2003, is an open bazaar where millions of entrepreneurs, individuals and factories offer items for sale, usually at cheap prices. To accommodate brands, including foreign companies, that wanted more control of their presentation to Chinese online shoppers, Alibaba in 2008 launched Tmall for larger brands including Nike Inc., Apple Inc. and Amazon China. Last week, Amazon China opened a second store on Tmall, expanding beyond its Kindle store to sell imported food, shoes, toys and kitchen goods on the popular Chinese marketplace. Juhuasuan is Alibaba’s flash-sale site, which is similar to Groupon.
Alibaba accounts for about 80% of the e-retail market in China, and Alibaba’s gross merchandise volume is larger than the total e-retail market in the United States. The value of goods sold on Alibaba’s Chinese e-retail platform grew about 48% to 2274 billion yuan ($363.24 billion) in 2014 from 1542 billion yuan in 2013 ($246.32 billion), according to Alibaba’s financial report.
Amazon is No. 1 in the Internet Retailer 2014 Top 500 Guide, Apple is No. 2, Nike is No. 64 and Groupon Goods is No. 44.