E-commerce giant Alibaba Group Holding announced on Wednesday that it will set up Alibaba Sports Group Authentic T.J. Yeldon Jersey , aiming to take a bigger share in the lucrative sports industry of China.
The launch of the Sports Group serves as one of the latest moves from Alibaba in China's sports industry after the e-commerce titan invested 1.2 billion yuan ($192 million) for a 50 percent stake of Guangzhou Evergrande, China's most successful soccer club and former Asian Champions League winner.