Caixin
Nov 12, 2022 07:36 PM
BUSINESS

Alibaba Keeps ‘Double 11’ Sales Secret for the First Time

Created by Alibaba CEO Daniel Zhang in 2009, ‘Double 11' evolved from a university pun about single life into a multibillion-dollar extravaganza. Photo: Bloomberg
Created by Alibaba CEO Daniel Zhang in 2009, ‘Double 11' evolved from a university pun about single life into a multibillion-dollar extravaganza. Photo: Bloomberg

(Bloomberg) — Alibaba Group Holding Ltd. decided not to disclose full sales results for its signature ‘Double 11’ shopping extravaganza for the first time, after forecasts that the figure may suffer a decline unprecedented in the event’s 14-year history.

Alibaba said in a statement gross merchandise value was “in line with last year’s GMV performance despite macro challenges and Covid-related impact.” Sales last year reached 540.3 billion yuan ($76.1 billion). Some 290,000 brands participated in 2022, the same as in 2021. 

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