What’s new: Alibaba Group Holding Ltd.’s global business-to-business (B2B) marketplace has invested in European counterpart Visable GmbH, as the e-commerce titan seeks further growth in a region with strong demand for quality goods.
After the investment, Visable will continue to operate independently, with its existing brand, management and organizational structure unchanged, the company said in a press release on Tuesday.
Alibaba.com said in a separate release that it will provide technical support for Visable’s B2B platforms to better serve customers.
Visable’s wlw and europages platforms collectively attract 3 million B2B buyers monthly, according to the company.
The background: The investment comes after Alibaba.com launched its “European Pavilion” earlier this year, offering products certified by the European Union (EU) or the U.K. and those sourced from verified suppliers.
The move is part of the platform’s efforts to grow its country- or region-specific business, as some Chinese products gradually lose their low-priced edge globally.
China is one of the EU’s largest trading partners, with bilateral trade worth $655.3 billion over the first 10 months of the year, Chinese customs data show.
Related: Alibaba, JD.com Report Double 11 Sales Growth
Contact reporter Wang Xintong (xintongwang@caixin.com) and editor Bertrand Teo (bertrandteo@caixin.com)
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