×
147
Fashion Jobs
NIKE
Lead Product Management – ed&a, Icc, India
Permanent · Bengaluru
NIKE
India Sports Marketing Manager
Permanent · Bengaluru
NIKE
Senior Dynamic Application Security Tester – Cis, Icc, India
Permanent · Bengaluru
PUMA
Senior Manager - Golf Sales (Cpg-Cobra Puma Golf)
Permanent · Bengaluru
PUMA
Manager - Accounts Payable
Permanent · Bengaluru
PUMA
Senior Manager – Teamsport Sales
Permanent · Bengaluru
NIKE
Lead Technical Product Manager – p&m, Icc, India
Permanent · Bengaluru
PUMA
Manager – Customer Reconciliation And Accounts
Permanent · Bengaluru
PUMA
Manager – Warehouse Operations (Ecommerce)
Permanent · Gurugram
PUMA
Warehouse Manager-Offline Business
Permanent · Bengaluru
NIKE
Lead Product Manager, India – ed&a Icc
Permanent · Bengaluru
PVH
Manager, Business Solutions
Permanent · Bengaluru
NIKE
Senior Product Manager - Enterprise Service Management (Esm), India – Tech Ops Icc
Permanent · Bengaluru
NIKE
Identity And Access Management (Iam) Security Operations Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Expert Security Incident Coordinator, India – Cis Icc
Permanent · Bengaluru
NIKE
Senior Security Engineer, India – Cis Icc
Permanent · Bengaluru
NIKE
Senior Software Engineer Iii – Retail Commerce Pos, India - Consumer & Marketplace Icc
Permanent · Bengaluru
NIKE
Senior Software Engineer ii – Retail Commerce Pos, India - Consumer & Marketplace Icc
Permanent · Bengaluru
SHAYA BY CARATLANE
Merchandiser & Planner
Internship · MUMBAI
NIKE
Senior Software Engineer Iii, India – Marketing Technology Icc
Permanent · Bengaluru
SS HOMME - SARAH & SANDEEP
Marketing And PR Intern
Internship · MUMBAI
TARAMA
Graphic Designer
Internship · MUMBAI
By
Reuters
Published
Sep 6, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Alibaba to buy luxury e-commerce business Kaola for $2 billion

By
Reuters
Published
Sep 6, 2019

​Alibaba Group Holding Ltd will buy e-commerce business Kaola from Chinese gaming company NetEase Inc for $2 billion, adding a platform that specializes in supplying luxury goods from abroad to Chinese consumers.


Kaola, launched by NetEase in 2015, aggressively targets shoppers in China, by offering products from brands such as Gucci, Shiseido and Burberry - Reuters


The long-rumored deal comes as China’s e-commerce players including Alibaba and JD.com Inc look to niche segments for growth, with the online shopping industry in the country slowing as economic growth eases.

While Alibaba’s Tmall already allows overseas brands to launch and manage virtual storefronts on its platform, Kaola offers a more curated collection to wealthy clients, primarily purchasing goods directly from suppliers to resell to consumers.

Chinese consumers account for more than a third of the luxury goods sector’s worldwide revenues.

“With Kaola, we will further elevate import service and experience for Chinese consumers through synergies across the Alibaba ecosystem,” Alibaba CEO Daniel Zhang said.

Alibaba, along with private-equity firm Yunfeng - which is backed by the tech giant’s founder Jack Ma, said it will separately invest about $700 million in Netease’s music streaming service, NetEase Cloud Music.

Kaola, launched by NetEase in 2015, aggressively targets shoppers in China, by offering products from brands such as Gucci, Shiseido and Burberry.

Kaola has an advantage over larger e-commerce players as it specializes in cross-border shopping, according to Ker Zheng, who tracks China’s online retail sector at consultancy Azoya.

By offering a relatively narrow selection of popular items, it can boost bulk purchases from suppliers and offer low prices.

“Kaola does not have to share user time or basket space with cheaper, non-imported products,” said Zheng, adding that this ensured them a loyal consumer base of wealthy shoppers.

Alibaba plans to let the Kaola app continue to operate independently under its current brand, while Tmall import and export general manager Alvin Liu will become Kaola’s new CEO, the companies said in a statement.

© Thomson Reuters 2021 All rights reserved.