China's Alibaba launches new platform to help brands sell luxury overstock

China's Alibaba launches new platform to help brands sell luxury overstock

The logo of Alibaba Group is seen during Alibaba Group's 11.11 Singles' Day global shopping festival at the company's headquarters in Hangzhou, Zhejiang province, China, November 10, 2019. REUTERS/Aly Song

Chinese e-commerce giant Alibaba Group Holding Ltd has launched a new luxury platform targeting younger consumers that also aims to help high-end brands shed excess inventory built up during the global coronavirus lockdown.

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