Alibaba has announced that it will be launching new sales channels in Singapore, Hong Kong, Taiwan and Malaysia in order to expand its users-base to reach its goal of achieving USD1 trillion GMV by 2020.
Tmall World will give access to Chinese consumers outside of China access to brand-to-consumer retailers listed on Tmall. “Alibaba will provide end-to-end solutions including logistics, payment, and localisation support catering to each local market’s need,” reads a statement released by Alibaba Group.
At Alibaba’s latest company meeting, chairman Jack Ma said that the goal is to reach 2 billion customers in the next 15 years with its overseas market accounting for 1.2 billion customers.
Tmall World will be extended into other countries in the near future, but in the meantime, it is testing with Southeast Asia, a region the company invested heavily in within the past couple years.
The new sales channel is only accessible to Chinese citizens living outside of China with an active Chinese payment method. The launch comes slightly ahead of JD.com’s entrance into Southeast Asia, Alibaba’s largest online competitor.