Latest Entries

Nike and Adidas Sold More Than $28 Million in Product on Alibaba’s Singles’ Day

Everyone wanted a piece of Alibaba Group’s Singles’ Day pie — and at least three athletic brands nabbed a hefty slice.
The China e-tail behemoth said today that its annual shopping extravaganza, Singles Day, generated $30.8 billion in gross merchandise volume (GMV), an increase of 27 percent over the prior year. And athletic powerhouse brands Nike and Adidas were among the 230-plus brands that exceeded $14 million in GMV — joining Apple, Estée Lauder, L’Oréal, Gap and other major brands. (Gross merchandise volume refers to the total value of merchandise sold on an e-commerce marketplace during a certain time period.)
Meanwhile, athletic footwear maker New Balance also had cause to celebrate: Alibaba said it sold more than 60,000 pairs of its shoes during pre-sales ahead of Sunday’s major shopping event.
“Today we witnessed the strength and rise of China’s consumption economy and consumers’ continued pursuit to upgrade their everyday lifestyles,” said Alibaba CEO Daniel Zhang. “Participation from the entire Alibaba ecosystem enabled our brand and merchant partners to engage with consumers like never before. Looking ahead, Alibaba will continue to lead the evolution towards the future digital economy and lifestyle.”
China’s Singles’ Day started 25 years ago as a social activity to help romantically unattached individuals celebrate

Follow Footwear News on Twitter or become a fan on Facebook.

Read More…

Via:: https://footwearnews.com/2018/business/retail/nike-adidas-sales-million-alibaba-singles-day-1202705919/