Alibaba launches AliLikes to compete with fast fashion giants
Anaita explains that Alibaba has launched Ally Likes, a fast fashion platform built on decades of sourcing data from over 90% of the world's fashion labels, aimed at competing with Asos, Boohoo and Shein by copying top-selling designs cheaper. Her take is that Alibaba will exploit the fast fashion model while it's profitable and drop it once it isn't.
The lessons
Watch how platforms with sourcing data can out-compete you on price and speed once they enter your market
Fast fashion brands need a longer-term strategy since dominant sourcing platforms can undercut them anytime
Questions people ask
What is Alibaba's Ally Likes and why does it matter for fashion brands?
Ally Likes is Alibaba's new fast fashion platform built on decades of sourcing data, since over 90% of fashion labels globally already use Alibaba. It plans to bring in top-selling designs from other brands at cheaper prices, directly competing with Asos, Boohoo and Shein.
Transcript
Guys. Alibaba has just launched its own fashion label. This is massive news. They have literally built up decades worth of data.
Over 90 of fashion labels around the world use alibaba to source their products. Their new fast fashion platform is called ali likes. It plans to compete with asos, boohoo and shein. So the tea here is that they're gonna bring in all the top selling designs from other brands and bring it in for cheaper.
Fast fashion brands just aren't safe when you've got to compete with the amazons and alibis of the world. My prediction with this is that they know that fast fashion isn't a long term strategy, but they're gonna cash in now and stop it when it's not profitable anymore. I mean, it's alibaba. They can do what they want.
