Photo: Courtesy of Tabao.Add another one to the list of international stores we're dying to shop...but can't just yet. WWD reports today that Alibaba, a Chinese e-commerce giant that's all but unheard of in the U.S., is preparing to make major strides into the U.S. market. Alibaba is currently preparing for an initial public offering on the New York Stock Exchange. This is a highly anticipated IPO that could raise an estimated $15 billion.
Alibaba has acquired stakes in Chinese film and television production companies in recent weeks. In addition, it operates Taobao.com, a sort of Chinese Amazon that offers a dizzying 70,000 different brands from 50,000 merchants. Taobao is especially strong in affordable, youth-oriented fashion.
In February, Alibaba plans to enter the U.S. market with the launch of a new e-commerce site called 11Main.com. Details on exactly what that site will offer are scarce, but if the ASOS-meets-Amazon model is anything to go by, this could be truly massive. (WWD)