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Alibaba Singles' Day Breaks Sales Record

BEIJING, China — Alibaba Group Holding Ltd.’s Singles’ Day shopping bonanza broke last year’s all-time high of 120.7 billion yuan ($ 18.2 billion) by 1:09 p.m. in Beijing, with about 11 hours still to go before the final bell.

The annual frenzy had already hit $ 8.6 billion in sales in the first hour after starting at midnight, and by 8 a.m. some 82 brands had topped 100 million yuan in sales including New Balance, Samsun…
The Business of Fashion

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