Alibaba plans to launch its first majority owned E-commerce venture in the US.  “11 Main” (business-to consumers) is to be launched by Alibaba’s US subsidiaries Vendio and Auctiva.  Alibaba did not disclose any details other than describing it as a boutique ecommerce platform selling interesting quality products from hand-picked shop owners.  Alibaba, though its English language website ‘AliExpress’, currently connects US businesses with Chinese wholesalers.

Alibaba’s Tmall and Taobao ecommerce platforms account for nearly 5% of China’s retail trade.  Last month Alibaba took a US$15 million minority stake in 1stdibs, a luxury ecommerce platform.  It also owns a minority stake in US based Shop-Runner Inc.

Source: Financial Times