News this week: The B2C e-commerce subsidiary of Alibaba
Group, Tmall.com,
is planning to build a global procurement system for foreign-made products to
serve the Chinese consumer market and promote international brands in the next
one to two years. Tmall will compile a database of international suppliers to
help consumers make group purchases at lower prices, with early products to
focus on milk powder and fine wine.
According to Tmall.com’s
Vice President Ma Xuejun, the development of the system will involve a partnership
with the International Brand Management Center of the China Association of
International Trade, a trade research association under the Ministry of
Commerce of China.
Tmall revealed in March
this year that the company reached sales of more than US$16 billion (RMB100 billion)
in 2011 and is forecast to total US$32 billion (RMB200 billion) this year.
This post is excerpted from BSG's weekly e-newsletter
which is part of our subscription research service, BSG Tracker. Visit our website
to find out more about this service. You can also follow us on Twitter
for all the latest updates.
No comments:
Post a Comment