Alibaba president targets European business expansion.
Alibaba Group to Prioritize Europe for Expansion
By Silvia Aloisi
PARIS (Reuters) – Alibaba Group is setting its sights on Europe as it seeks to build local businesses and online platforms outside of China, according to the company’s president.
“Our future focus will be on building local businesses. You will soon see TMall, which is a well-known platform in China, become TMall in Europe. This means we will cater to local brands and customers in their respective markets,” said J. Michael Evans at a technology conference in Paris.
He added, “We have already initiated a pilot project in Spain, which we plan to expand across Europe.”
In March, Alibaba announced its decision to split into six units and explore fundraising or listings for most of them, following a regulatory crackdown on China’s tech sector.
The company’s e-commerce business will be divided, with one side focusing on Alibaba’s domestic-facing e-commerce marketplaces and the other on its overseas e-commerce marketplaces, such as Lazada, which serves Southeast Asia, and AliExpress.
Taobao and TMall are the dominant e-commerce marketplaces in China.
When asked about Alibaba founder Jack Ma, J. Michael Evans confirmed that Ma remains the company’s largest shareholder and is still deeply invested in its success.
Evans stated, “Jack is alive, well, and happy. He is currently teaching at a university in Tokyo and spending more time in China.”
He continued, “This is his company, and he cares about it just as much as he did when he started it. I expect this dedication to continue as long as Alibaba and Jack Ma are here.”
(Reporting by Silvia Aloisi; editing by Benoit Van Overstraeten and Jason Neely)
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