Eddie Wu takes the helm again! Alibaba CEO Eddie Wu integrates domestic and overseas e-commerce.
On November 21, Alibaba Group CEO Eddie Wu sent an all-staff email announcing the establishment of the Alibaba E-commerce Business Group, appointing Jiang Fan to lead it and report directly to Eddie Wu. The new e-commerce business group will fully integrate Taobao Tmall Group, International Digital Commerce Group, as well as platforms like 1688 and Xianyu, forming a comprehensive business cluster covering the entire industrial chain both domestically and internationally.
The establishment of this new e-commerce business group reflects Eddie Wu's vision as Alibaba Group CEO on how to leverage both domestic and international resources to create synergistic growth in the e-commerce sector. This move underscores Alibaba's commitment to investing in its core e-commerce business, aiming to better support merchants in capturing global market opportunities and achieving greater growth through enhanced synergies.
In September last year, Eddie Wu took over as Alibaba Group CEO and subsequently clarified the strategic focus of "user-first, AI-driven," making strategic choices to concentrate on core businesses. He also assumed the role of CEO for both Taobao Tmall Group and Cloud Intelligence Group, driving organizational rejuvenation and implementing bold reforms in management structure and business strategies.
Over the past year, all business segments have maintained healthy growth. Alibaba's latest financial report released on November 15 shows that during the 2024 Double 11 shopping festival, Taobao Tmall achieved robust GMV growth, with buyer numbers hitting record highs and 88VIP membership reaching 46 million. Alibaba Cloud revenue growth continued to accelerate, with AI-related revenue posting triple-digit growth for five consecutive quarters. International Digital Commerce Group revenue surged 29%, while Local Services Group and Digital Media and Entertainment Group significantly narrowed losses.
"With the rapid progress of the times, 25-year-old Alibaba must maintain an entrepreneurial mindset, continuously innovate, fulfill its mission of serving SMEs, and create sustained value for society," Eddie Wu said in the all-staff email. He noted that e-commerce ecosystems in China and globally are entering a new era, where global supply chain capabilities, fulfillment capabilities, and consumer service capabilities will determine future competitive landscapes. The Alibaba E-commerce Business Group will integrate all e-commerce resources within the group to leverage accumulated capabilities, serving both domestic and global consumers while helping more SMEs expand into domestic and overseas markets.
Over the past year, Taobao Tmall and overseas e-commerce have gradually moved toward integration. In July this year, Taobao launched the "Global Free Shipping Program for Fashion," leading apparel merchants to expand overseas, with a $Alibaba(BABA.US) $BABA-W(9988.HK)
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