Alibaba's blockbuster trading debut in the U.S. last month generated a sense of optimism among Asia's e-commerce players, who believe that the Chinese behemoth's success bodes well for them.
Hong Kong-based online retailer eCargo, for instance, believes the euphoria surrounding Alibaba's record initial public offering (IPO) is positive for its upcoming listing in Australia.
"We believe that Alibaba and Jack Ma are great ambassadors for the e-commerce market in China. I think they did very well in telling the story of China's e-commerce and most importantly, draw the picture where we are headed for the coming years," CEO Christopher Lau told CNBC Asia's "Street Signs" on Tuesday.
eCargo hopes to raise up to $35 million (approximately 40 million Australian dollars) through the IPO, which values the firm at $198 million. The company has teamed up with international retailers including Australian department store Myer and British fashion label Karen Millen in the past, and believes that it offers an alternative choice for investors keen to buy into the mainland's booming e-commerce market.
"Alibaba has developed a great market online but what that market supplies is a handful of international brands and quality products. We are looking to bring more international brands into China [and] we feel this is a huge opportunity as Chinese consumers switch towards higher quality products and better brands," Lau said.