Alibaba Group announced plans to open up its ecommerce business in countries where it does not have presence, including the United Kingdom and India, for the first time in the company’s history.
The company is set to open an online store in India on Oct. 4, and in the United States on Oct 5.
Alibaba Group said the ecommerce store will be located in the U.K. market, which is where it has a presence and operates its online marketplace.
The ecommerce platform will allow Alibaba Group to provide more competitive prices to its customers, while maintaining its own online presence, said Alibaba Group chairman Jack Ma, speaking at the company s annual shareholder meeting on Wednesday.
The U.S. market is a “strong and growing market” for Alibaba Group in terms of customer demand, Ma said.
“We expect that U.E. customers will be our biggest customers for a long time to come,” he added.
Ma also announced plans for an ecommerce merchant account for the Alibaba Group.
Alibaba is the worlds largest ecommerce marketplace and Alibaba Group’s biggest customer.In the U