Russia becomes one of 3 top-buyers from China’s Internet holding Alibaba

Business & Economy

June 16, 2014, 17:44 UTC+3 MOSCOW

Alibaba said it will continue to develop and promote AliExpress globally, especially to consumers in emerging economies such as Russia, the Eastern Europe and South America

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MOSCOW, June 16. /ITAR-TASS/. Russia has become one of the top-three countries for the total amount of purchases from online store AliExpress, a part of Chinese Internet holding Alibaba, according to Alibaba’s report released on the Web site of the US’ Securities and Exchange Commission on Monday.

“In addition to the global English-language site, AliExpress operates two local language sites in Russia and Brazil. In the three months ended December 31, 2013, the leading countries where active buyers on AliExpress were located were Russia, the US and Brazil. Sellers primarily consist of small and medium-sized businesses located in China,” the company said.

Alibaba’s revenue from international commerce retail business reached about $63 million in the 2013 fiscal year. “The main reason for the increase was an increase in gross merchandise volume transacted on AliExpress, primarily from sales to buyers in Russia, the US and Brazil,” the report read.

Alibaba said it will continue to develop and promote AliExpress globally, especially to consumers in emerging economies such as Russia, the Eastern Europe and South America, where quality products from China at direct-to-consumer prices offer significant value.

Alibaba Group runs its own electronic payment system Alipay and Internet stores Taobao.com and AliExpress. US giant Yahoo owns about 24% in Alibaba.