Latest Alibaba news reports e-Commerce giant based in China has lost the Snapdeal buyout recently in India. The company aims to try out more in the region. It is looking for acquiring the Indian online retailors which have a mass customer attraction and loyalty as well as network consisting of robust merchants.
Any company that wishes to expand its horizon and experiment with more products and services and also has a positive customer care service is being looked by the e-commerce giant. An Alibaba representative said that "Alibaba Group's investment strategy focuses on three aspects of our business: increasing user acquisition and engagement, improving customer experience and expanding our products and services.”
The company has four offices in India and is looking to acquire some major e-commerce names in the country. The platform has provided a global market for medium and small enterprises. The company has also provided platform for selling goods, from chocolates to spices to tea. Alibaba news reports that the representative expressed that the company’s investment approach also includes promoting the startups and young entrepreneurs that are working on innovative or problem solving products.
The founder of Alibaba, Jack Ma, when visited India in November 2014 had expressed the interest in investing more in India. He said that he wishes to work with Indian entrepreneurs and Indian technologists so the relationship between the two nations builds up in a better way.
Ma is one of the richest people in China and also the most successful one as well. With the fortune of approx. $24 billion, the company stands out being established only in 1999.
One of the market insider said that the key strategy that Alibaba is following is to go global so that it can cooperate and enhance business with small enterprises across the world. It is in talks with many small e-commerce companies to create a large model based on e-commerce plan so that it can take on rivals like Amazon, Flipkart and Snapdeal.
India, being a populous country and also consisting of high rate of internet usage is one of the huge online retail market across the globe and is welcoming major investors around the world to invest in it. According to PwC, a consultancy firm, the sector based on e-commerce is going to increase by 34% in this year as compared to the last year.
In January, a memo of understanding was signed by the e-commerce giant with CII which is an industry body. Last month, the company had pulled out of talks due to increased estimates with Snapdeal.
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