Alibaba: Clicks to bricks

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UK Only Article: 
standard article

Issue: 

Xi’s history lessons

Fly Title: 

Alibaba

Rubric: 

The Chinese online giant is looking for new sources of growth

Location: 

SHANGHAI

“IN FIVE years, we will sell one trillion dollars.” That is the bet that Jack Ma, the chairman of Alibaba, made with American businessmen on a recent trip to Chicago. The Chinese firm is already the world’s biggest e-commerce outfit. But now Mr Ma thinks he can more than double the volume of sales on his firm’s online-sales platforms by 2020.
First, he must win over investors. The firm’s shares have fallen sharply from their peak of 9 late last year, though at around they remain above the price at which they (or rather, shares in a “variable interest entity” linked to Alibaba, and registered in the Cayman Islands) were floated last September. On August 12th Alibaba unveiled its latest results. Its quarterly revenues grew by 28% year on year to 20.2 billion yuan (.3 billion), and profits rose by 23% to 10.6 billion …
Source: Retailing
Alibaba: Clicks to bricks