Alibaba Singles’ Day sales surpass $70bn, spurred by luxury

Alibaba faces legal action over counterfeit goods

Alibaba posted record sales of $74bn (£56bn) for its annual Singles’ Day Sales event, which this year was extended beyond the usual one day of deals.

The Chinese retail giant posted sales of $74bn (£56bn) over the course of the event, which this year spanned three days between November 1 and 3 followed by the usual November 11 Sale bonanza.

Alibaba’s sales were spurred by a surge in luxury brands including Balenciaga and Prada joining the event for the first time as Chinese shoppers swapped overseas travel for domestic spend amid the ongoing conronavirus pandemic.

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