Alibaba Group Holding Ltd will buy e-commerce business Kaola from Chinese gaming...
SHANGHAI - Alibaba Group Holding Ltd will buy e-commerce business Kaola from Chinese gaming company NetEase Inc for $2 billion, adding a platform that specializes in supplying luxury goods from abroad to Chinese consumers.
While Alibaba’s Tmall already allows overseas brands to launch and manage virtual storefronts on its platform, Kaola offers a more curated collection to wealthy clients, primarily purchasing goods directly from suppliers to resell to consumers.“With Kaola, we will further elevate import service and experience for Chinese consumers through synergies across the Alibaba ecosystem,” Alibaba CEO Daniel Zhang said.
Kaola has an advantage over larger e-commerce players as it specializes in cross-border shopping, according to Ker Zheng, who tracks China’s online retail sector at consultancy Azoya.
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