Alibaba Group Holding Ltd. made a strategic investment in online wholesale platform Ordre in a bid to expand into the luxury sector, Business of Fashion reported May 18, citing Ordre co-founder Simon Lock.
The companies did not disclose the financial details of the investment, but the report said that it is less than $20 million.
Ordre confirmed the news in a blog post. The company said it will use the experience, data and expertise of Alibaba to create new direct-to-consumer channels.
Alibaba intends to use Ordre’s technology to gain direct access to consumers, the report said, citing Alibaba’s Tmall Fashion and Luxury President Jessica Liu.
