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Chronicles

The story behind the story

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Alibaba partners with US brands like P&G and Macy's to sell their goods in China, hoping to reignite growth

Leena Rao / Fortune :

Fortune Leena Rao

Context & Ripple Effects

The P&G and Macy's deal extends a year-long courtship of US brands: in January, Alibaba agreed to handle payments and shipping into China for Saks, Macy's and other US stores, and by August it had locked up exclusive deals with at least 20 brands including Timberland and Decathlon as JD.com's competition tightened. Even rival Amazon opened its own storefront on Tmall earlier that spring, underscoring how contested access to Chinese shoppers had become.

First-order effects

  • P&G and Macy's gain a direct channel into Chinese demand without building their own payments, shipping or compliance infrastructure — Alibaba handles the plumbing in exchange for inventory and brand pull.
  • Alibaba gets marquee Western names to anchor its growth story just as JD.com's rise makes exclusivity and brand roster the visible scoreboard between the two platforms.

Second-order effects

  • Rivals like JD.com are pushed to match with their own brand-exclusive arrangements, turning Western brand signings into a bidding contest for distribution terms.
  • US brands' success or failure on Tmall sets the reference case for other Western retailers deciding whether to enter China via a platform partner or build direct operations — a question Amazon answered by renting space on Tmall itself.

Third-order effects

The trend: Global consumer brands are increasingly entering China by plugging into incumbent local platforms rather than building standalone operations, making platform partnerships the default route to Chinese demand.