Alibaba Logs 'Robust Growth' in Singles' Day Sales; 45 Brands Top 1 Billion Yuan in GMV

MT Newswires Live11-13

Alibaba's (HKG:9988) retail businesses Taobao and Tmall logged "robust growth" and a "record number" of shoppers during the Singles' Day shopping festival, according to a Tuesday press release by the e-commerce company.

During the festival, a nod to the digits on Nov. 11, 45 brands carried on Taobao and Tmall logged gross merchandise volume of more than 1 billion yuan. The number of brands that hit the milestone rose 46.5% from last year's event.

Among them are Apple, Haier Smart Home (SHA:600690, HKG:6690), Midea (HKG:0300, SHE:000333), Xiaomi (HKG:1810), Nike, and Wuliangye (SHE:000858), Alibaba said.

The number of brands that topped 100 million yuan in gross merchandise volume rose to 589 from 402 a year earlier.

As of midnight of Nov. 11, 66 apparel brands, 79 beauty brands, and 34 consumer electronics brands reached the milestone.

Government dole-outs and platform discounts also helped bolster home appliance and furniture sales, with 139 brands topping 100 million yuan in GMV, Alibaba said.

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