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With discounts galore and Taylor Swift, Alibaba eyes another record Singles' Day

  • Source: Investing.com - - Read: 0



    © Reuters. FILE PHOTO: A logo of Alibaba Group is seen at the World Internet Conference (WIC) in Wuzhen

    By Josh Horwitz

    SHANGHAI (Reuters) - Alibaba Group (N:) will kick off its annual 24-hour shopping extravaganza on Monday with deals and deep discounts galore, and a performance by American popstar Taylor Swift to top it all, as it pushes to rake in another record Singles' Day sales.

    This year's Nov. 11 bash comes as the $486 billion Chinese retail juggernaut navigates through a major turning point, the resignation in September of its flamboyant co-founder Jack Ma as chairman, and looks to raise up to $15 billion via a share sale in Hong Kong as early as this month.

    Akin to Black Friday and Cyber Monday in the United States, Singles' Day, a shopping fest originally promoted by ...



    Read Full News: https://www.investing.com/news/stock-market-news/with-discounts-galore-and-taylor-swift-alibaba-eyes-another-record-singles-day-2017016

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