Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling Back
AliExpress is an online retail service based in China and owned by the Alibaba Group. Launched in 2010, it is made up of small businesses in China and other locations, such as Singapore, that offer products to international online buyers.
Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling BackAliExpress launches "parallel import" of spare parts to Russia. Alibaba, the business-to-business (B2B) equivalent of e-commerce (B2C) platform AliExpress, is reportedly no longer accepting payments in Russian rubles and will stop shipping to Russia. Both Alibaba and AliExpress are owned by Alibaba Group Holding Limited, but AliExpress's social media page confirmed that the restrictions do not apply to AliExpress.
AliExpress, a global trading platform, has stopped accepting cards from Russian banks that have come under sanctions. This was reported by the Russian edition of MK.RU. AliExpress launches "parallel import" of spare parts to Russia. The National Agency on Corruption Prevention (NACP) included the Chinese group of companies Alibaba Group Holding Limited, which owns the largest online commerce platform AliExpress, on the list of "international war sponsors". The reason for this decision in NAZK was called the continuation of the company's work in Russia, in particular, the provision of a platform for the sale of goods produced by the Debaltseve plant of metallurgical engineering in the DPR. The Chinese company Alibaba, which owns the AliExpress marketplace, has tightened conditions for Russian business: it has stopped accepting rubles and does not allow delivery to Russia. In 2022, Alibaba stopped investing in the Russian subsidiary of AliExpress. In 2023, the company's revenue in Russia decreased by 36%, to almost 10 billion rubles.