The same source also mentions that 11 Main (11main.com) website is an online shopping business that offers products such as fashion, tech and jewellery goods.
Alibaba has been increasing its international expansion with various acquisitions, including a roughly USD 200 million investment round in US retail website ShopRunner, setting up an investment division in the US and offering more of its e-commerce and online payment products overseas.
At the same time Chinas e-commerce company is gearing up for an expected public offering later in 2014 which will value the company at around USD 140 billion, according to a Reuters poll of eight analysts.
The foray into boutique e-commerce was conceived and created by Vendio and Auctiva, which Alibaba acquired in 2010 and helped businesses sell on eBay and Amazon.com.
Check out our Cross-border Ecommerce Research section here for more info on country-specific ecommerce facts & figures, preferred payment methods, risk and fraud, as well as ecommerce legislation & regulation for mature and emerging markets.
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