Alibaba is expecting to take Singles' Day, China's biggest online shopping event into a whole new level by introducing foreign brands like Calvin Klein and Blue Nile Inc. to its merchandise.
Aside from those, Costco, Origins Natural Resources and American Eagle Outfitters is also joining in on Alibaba's Singles' Day Promo.
Singles' Day, or Anti-Valentine's Day started in China two decades ago as a time for bachelors and bachelorettes to celebrate the single life.
Alibaba, China's largest e-commerce company, used this an opportunity to boost sales by giving out deep discounts on everything from cars to clothes.
With the growing number of online shoppers increasing to 20 percent to 360 million, Alibaba expects to capture 70 to 80 percent of Singles' Day transactions tomorrow.
Alibaba is looking to shoot past last year's 35 billion yuan ($5.7 billion) transactions within the 24-hour period.
Alibaba is using 27,000 labels to lure in international merchants and potential buyers for a promotion that overshadows both Black Friday and Cyber Monday combined.
"November 11 is a key milestone for Alibaba," said Allen Xu, the consultant's managing director.
"The company used the festival to build its dominance as an e-commerce player linking businesses to consumers in China. With the IPO of Alibaba, the company has the ambition to make this brand go global," Xu added.
Alibaba's two e-commerce sites, Taobao Marketplace and Tmall, both experienced exponential growth in sales since 2009, and has then changed what then was called "Double 11" (the date 11/11 is a loosely defined holiday celebrated by young single Chinese for its four "1's," the number representing their single status) into the biggest 24-hour shopping event in the world, Business Insider reports.
After its very successful IPO recently, Alibaba plans to continue its growth momentum coming Singles' Day, offering over 1 million products online.
"We try to create a real global consumer day," Chief Operating Officer Daniel Zhang said. "The numbers could be quite small, because we are in the beginning stage."
