Chinese e-commerce leader Alibaba Group Holding Ltd is investing more than $100 million in, a flash sales platform for luxury and fashion goods, according to a source with knowledge of the deal.

Alibaba had said earlier on Wednesday that it would form a team within its Tmall business-to-consumer platform to help expand its user base, product offerings, logistic services and IT infrastructure, but it did not disclose the size of its investment.

(Reporting by John Ruwitch; Additional reporting by Paul Carsten; Editing by Kazunori Takada and Pravin Char)

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at

Related Posts

Facebook Comments

Return to Top ▲Return to Top ▲