South Korean retailers crack China with Alibaba
Over a thousand brands and retailers attended an event held by Alibaba's Tmall.com in Seoul, South Korea, all looking to get a share of China’s huge e-commerce market.
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Over 600 Korean brands are already listed on Tmall.com, which provides the businesses with a platform to launch their own web stores. Chinese company iResearch recorded that, last year, Tmall accounted for as much as 75 percent of online apparel purchases in the country.
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Alibaba also announced that South Korean items rank among the most popular products on Tmall Global, a section especially designed for overseas firms that have physical presence in the country. For years, brands from South Korea have heavily relied on e-commerce platforms to reach more Chinese customers.
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SOURCE: [Yibada]
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