Alibaba Group Holding Ltd (NYSE:BABA) is pivoting towards its overseas business amid slow domestic consumption growth, with its international e-commerce business unit, comprising platforms like AliExpress, Lazada, Daraz, and Trendyol, reporting a 44% revenue increase to $4 billion in the December quarter.
This growth contrasts with the modest 2% year-over-year increase in its core e-commerce businesses, Taobao and Tmall Group.
CEO Eddie Wu highlighted plans to invest in improving user experiences, developing public cloud products, and sustaining growth in international commerce, CNBC reports.
Recent management changes across Alibaba’s subsidiaries, including the appointment of James Dong as acting CEO of Daraz and …