Alibaba Group Holding Ltd. (BABA) wasn't the only company to report big numbers from its annual Singles' Day event.
Rival Chinese e-commerce company JD.com Inc. (JD) said Sunday, Nov. 12, that its Singles Day transaction volume hit about $19.1 billion, up more than 50% from 2016. The sale ran from Nov. 1 to Nov. 11, with the final day "making up by far the largest spike in sales," the company said in a statement.
Among the items sold were over 2 million hairy crabs, over 1.5 billion infant diapers, 70 million bottles of water and 11 million tubes of toothpaste.
On Saturday, Nov. 11, alone, top selling brands included L'Oréal SA (LRLCY) , which tripled sales from last year, and Tag Heuer, backed by LVMH (LVMUY) , which surpassed last year's results in 15 minutes. Columbia Sportswear Co. (COLM) sales increased 800%, while sales of rival North Face, owned by VF Corp. (VFC) , increased 400%.
JD.com's results still were dwarfed by rival Alibaba, which reported record Singles' Day gross merchandise volume of $25.3 billion, up 39% year over year.
— Alibaba Group (@AlibabaGroup) November 12, 2017
JD.com, the second-largest online retailer in China, is also Walmart Stores Inc.'s (WMT) partner in the region.
Last year, Walmart sold its Yihaodian Chinese e-commerce service to JD.com in return for a 5% stake, worth about $1.46 billion, less than the roughly $1.55 billion Walmart originally paid for Yihaodian, in an admission that scale is difficult to come by in overseas markets. Walmart has since increased its JD stake to about 12% and the companies have expanded strategic partnership relationship.
Singles' Day, a Nov. 11 shopping holiday, is the world's largest online shopping day. Last year, for instance, Black Friday and Cyber Monday took in $6.5 billion combined.
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