Alibaba Signs David Beckham As Global Brand Ambassador For E-Commerce Platform

Alibaba (NYSE:BABA) has enlisted soccer legend David Beckham as the international brand ambassador for its e-commerce platform, AliExpress.

What Happened: The partnership aims to boost AliExpress’s global presence amid fierce competition from rivals like PDD Holdings (NASDAQ:PDD) and Shein. AliExpress has not disclosed the financial terms of Beckham’s endorsement deal, CNBC reported on Monday.

AliExpress plans significant promotions, including ticket giveaways for the UEFA European soccer championship, which begins in mid-June.

“AliExpress is helping fans get even closer to UEFA EURO 2024™ this summer,” Beckham said in a statement.

Beckham’s company, DRJB Holdings, reported revenue of £72.6 million ($92.5 million) in 2022. Alibaba’s international e-commerce arm saw a 45% increase in sales to 27.45 billion yuan ($3.79 billion) in early 2024, despite rising losses.

AliExpress previously invested $7 million in South Korea and signed actor Don Lee as a brand ambassador. Other Chinese companies, including Alibaba-affiliate Alipay, BYD, Hisense, and Vivo, are also UEFA Euro 2024 sponsors.

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Why It Matters: AliExpress has been a significant driver for Alibaba‘s international revenue growth. AliExpress has been instrumental in providing shoppers with more choices, which has fueled Alibaba International’s revenue.

However, AliExpress has also faced scrutiny. The platform came under investigation by the European Union for consumer safety and illegal content issues.

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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari