Alibaba Group’s Taobao Global has pledged to incubate and support more than 365 brands b March 2019, the end of their financial year. Launched in 2007, Taobao Global is a shopping platform for overseas small businesses selling to China and has become a destination for increasingly sophisticated Chinese consumers looking for high-quality international goods. Taobao Global’s incubation program is designed as a stepping stone into the China market for brands wishing to expand in the region.
Small or niche businesses make up 80% of the brands on the site, generating a combined 40% of the gross merchandise value. Taobao Global has stepped up its commitment to help these brands, which might be influential in their local markets, but still relatively unknown in China, succeed on the platform. They will provide them with support ranging from supply-chain management to content creation to digital marketing. Prospective brands will be chosen following a review by Taobao Global of their likelihood of success in China and their respective categories.
“We hope to incubate a quality international brand a day, helping them generate more than RMB 10,000 ($1,562) in daily GMV and provide further support to help them maintain steady growth.”
– Wei Meng, head of Taobao Global
If you’re approached then it’s well worth exploring Taobao Global’s incubation program as the aim is to help businesses generate over RMB 10,000 (£1,166) a day turnover – an additional £425k revenue per year.
According to the latest figures from Taobao Global, the platform counts over 50,000 merchants and close to 200,000 brands. Last year, more than 2.5 billion goods from 114 different countries around the world were sold on the site. A sizable portion of those transactions are generated by the Taobao Global buyers – There are over 15,000 buyers based in about 60 countries and regions worldwide.
“We genuinely hope Taobao Global’s incubation program can help discover and support international brands with potential flourish in China,” she added. “We want to be the top destination for SMEs looking to enter this market.”
– Wei Meng, head of Taobao Global
