Alibaba to merge domestic and global e-commerce units, names Jiang Fan as CEO

South China Morning Post11-21 17:30

Alibaba Group Holding will merge its domestic and overseas e-commerce operations into one unit and named Jiang Fan, the tech giant's 39-year-old heir-apparent, as CEO, the company said in a statement ...

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It comes as China's largest e-commerce firm has made moves seeking greater synergy across its domestic and international supply chains amid intensifying competition with domestic rivals such as Pinduoduo owner PDD Holdings, which has been expanding aggressively in international markets with its shopping app Temu in recent years.\nAlibaba owns the South China Morning Post.\nDo you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.\nThe new unit, officially named Alibaba E-commerce Business Group, will integrate the Taobao and Tmall Group, Alibaba International Digital Commerce, 1688 Marketplace, Idle Fish and other e-commerce operations.\nIn his new role, Jiang will report directly to Alibaba CEO Eddie Wu Yongming.\n\nJiang Fan, who currently leads Alibaba International Digital Commerce Group, will lead a new business unit that combines domestic and global e-commerce operations. Photo: Alibaba Group Holding alt=Jiang Fan, who currently leads Alibaba International Digital Commerce Group, will lead a new business unit that combines domestic and global e-commerce operations. Photo: Alibaba Group Holding>\nJiang, who currently heads the international e-commerce arm, delivered strong revenue growth for the group in the last quarter. Alibaba International revenue surged 29 per cent year on year to 31.7 billion yuan (US$4.4 billion) in the September quarter. This dwarfed Alibaba's overall 5 per cent revenue growth for the quarter.\nAnalysts said the move reflects Alibaba's determination to seek new growth amid fierce competition in an e-commerce industry struggling with slower growth.\n\"Judging from the integration, Alibaba's determination is very big,\" said Zhang Yi, founder and chief analyst at market consultancy iiMedia.\nFacing the prospect of Alibaba not having any more advantages in the mainland market, the integration of the firm's domestic and overseas units is consistent with the pace of Chinese manufacturing going overseas, which is a good strategy for the whole company, according to Zhang.\nThe Hangzhou-based e-commerce giant has been making frequent adjustments to its core businesses since last year.\nLast March, the company unveiled its largest-ever corporate restructuring that divided the company into separate business units meant to stand on their own. Six months later, Wu, an Alibaba co-founder, took over the reins of the business empire from his predecessor Daniel Zhang Yong, and he became the head of Taobao and Tmall in December.\nWu has since emphasised \"users first\" and \"AI driven\" strategies, in a sign that Alibaba is refocusing on its bread-and-butter e-commerce and cloud businesses. The company has also sought new revenue streams in its domestic e-commerce business in recent months, with the launch of the paid digital marketing tool Quanzhantui in April and a new technology service fee for Taobao and Tmall merchants in September.\nLi Chengdong, founder and chief analyst at e-commerce consultancy Dolphin, said the latest adjustment is recognition of Jiang's accomplishments in leading Taobao and Tmall as well as Alibaba International.\n\nAn outdoor installation for the Singles' Day shopping festival at Alibaba's Xixi Park in Hangzhou on November 1. Photo: Xinhua alt=An outdoor installation for the Singles' Day shopping festival at Alibaba's Xixi Park in Hangzhou on November 1. Photo: Xinhua>\nJiang is likely to make operational improvements based on his past experience in managing the e-commerce units, said Li, who also cautioned that the company is still facing challenges from an eroded consumer base in China.\n\"In the past, people spent their spare time on Taobao, and now more and more people go to Douyin and Kuaishou,\" Li said, adding that Jiang's return might improve business but will not change underlying trends.\nThe latest announcement also came after the company concluded promotions for its 16th Singles' Day - the world's largest online shopping festival - earlier this month. Taobao and Tmall accounted for around 50 per cent of sales from major platforms during the two-week period, while Douyin led in terms of growth with a 19 per cent increase in gross merchandise value, according to a report by Chinese consultancy Analysys.\nThis article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved. \nCopyright (c) 2024. South China Morning Post Publishers Ltd. 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