- 18 October 2015
- Transport / Logistics Services
Chinese manufacturer to worldwide market marketplace Alibaba is to open new offices in a number of countries in Europe according to the Wall Street Journal. The business, which attracted $9.3 billion in Chinese sales in one day alone last year, hopes to expand its market reach.
The business is opening new offices in France, Germany and Italy in time for China’s annual Singles Day on November 11. This is traditionally the biggest day of trading in the world’s second largest economy.
In an attempt to expand its business reach and offset the recent nervousness in Chinese markets, Alibaba is now promoting the sale of foreign products to the Chinese middle classes, where traditionally the company has solely focused on exports from China.
Where last year’s Singles Day saw record sales for Alibaba, the recent slowdown of the economy may impact sales this year. China is still one of the world’s greatest manufacturing countries and trade may well see a boost with the new offices being opened.