Alibaba (NYSE:BABA) stock is a hot topic on Tuesday after the Chinese e-commerce giant announced David Beckham as its newest brand ambassador.
This has the retired soccer star acting as a global brand ambassador for AliExpress. That will have him acting as the face of the company’s “Score More with AliExpress” advertising campaign.
As part of this, AliExpress is sponsoring the UEFA Euro 2024, which starts on June 1. This comes with a special promotion from June 14 to July 14 where users of its mobile app can take advantage of discounts “every time a goal is scored.”
Gary Topp, the European Commercial Director for AliExpress, said the following about Beckham joining as its brand ambassador:
“Whether you’re a football fan or not, I can think of no-one better to show how easy it is to win with AliExpress during UEFA Euro 2024.”
What This Means for BABA Stock
With this move, Alibaba is focusing more on expanding its business outside of China. This comes as other rivals, such as PDD‘s (NASDAQ:PDD) Temu, have seen success in the U.S. and other countries.
Adding Beckham as a brand ambassador is only part of AliExpress’ strategy. The company is also offering improved shipping and other benefits to try and draw in international customers.
BABA stock is down 1% as of Tuesday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
