Tmall Global to incubate 1,000 international brands
It seeks to support the brands in marketing and cross-border logistics.
Alibaba’s B2C cross-border platform Tmall Global has expressed plans to incubate around 1,000 international brands in the next three years, the company said in a news release.
During the China International Consumer Products Expo 2022 in Hainan, Alibaba said Tmall Global will support the brands in marketing and cross-border logistics to help them reach $1.48m (RMB10m) in annual gross merchandise value (GMV) by the end of 2025.
READ MORE: Tmall Global emerges as Chinese shoppers’ favourite platform
Fifteen global brands have signed on, including Procter & Gamble’s beauty business Tula Skincare and Bayer’s supplement brand One A Day, Alibaba said.
More than 29,000 global retailers from over 87 countries have opened stores on Tmall Global, and 80% of them made their market entry to China through the platform, the company said.