Alibaba’s Singles’ Day Goes Global With Record $25 Billion in Sales
Alibaba's Evans on Singles' Day, U.S. Investment Strategy
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Alibaba Group Holding Ltd.’s Singles’ Day generated a record 168.2 billion yuan ($25.3 billion) in sales, as the e-commerce giant worked with more traditional retailers to market discounted lobster, iPhones and refrigerators to shoppers from at least 225 countries and regions.
To pump merchandise, the Chinese company also hosted a star-studded gala with film star Nicole Kidman and American rapper Pharrell Williams. Chief Executive Officer Daniel Zhang said the company wants to make the event more global, and is planning to take its gala overseas soon, without giving a time frame.