Chinese E-Commerce Firm Alibaba to Set up Office in Mumbai
Highlights
Alibaba՚s decision to open the office could imply that the competition in e-commerce sector in India is likely to get even fiercer.
Alibaba is hoping to get a slice of the growing e-commerce market which is currently dominated by home-grown Flipkart, followed by Amazon and Snapdeal.
The rent of the building is expected to be a little over ₹ 1 crore per month.
Will Indian Online Sellers Accept Alibaba?
China՚s largest online marketplace, Alibaba, has been a medium for small Indian businesses to obtain Chinese commodities.
The platform has also been a means of taking Indian retail businesses abroad.
Its entry into Indian terrain will definitely be welcomed by online sellers in India.
About Alibaba Group
Founded: 4 April 1999; 17 years ago, Hangzhou, Zhejiang, China
Headquarters: Hangzhou, Zhejiang, China
Area served: Worldwide
Founder: Jack Ma
Industry: Internet
Products: E-commerce, Online auction hosting, Online money transfers, mobile commerce
Services: Online shopping
Slogan: To make it easy to do business anywhere
Magic Moves of Alibaba
The Chinese giant will bring the entire weight of its technology platform, supply-chain management capabilities and financial muscle to the Indian market.
Its Single՚s Day holiday sale turned into a $ 14.3 billion windfall for the firm last November.
Alibaba has spent much of the last decade building up its B2B business in both sales and sourcing.
Its B2C launch could help the company boost its global image.
Alibaba gets under a fifth of its business from outside its home base of China.
India then could be the stepping stone to it becoming a truly global entity.