Alibaba names soccer star David Beckham as its brand ambassador

International soccer star David Beckham has signed an agreement to be a global brand ambassador for Alibaba (BABA) and promote the Chinese company’s international e-commerce platform called “AliExpress”.

In a press release, Alibaba stated that the signing with Beckham is its largest global brand ambassador partnership to date.

The signing of David Beckham comes as Alibaba faces growing domestic competition from companies such as PDD Holdings and Shein, each of which is expanding globally.

AliExpress, which has not disclosed how much it pays Beckham, has joined several Chinese companies in sponsoring the European Football Championships, which start in June this year.

Alibaba’s international e-commerce business, which owns AliExpress, saw sales grow 45% year-on-year to $3.79 billion in the first three months of 2024 in the U.S.

However, the international business unit remains unprofitable for Alibaba, which the company says it is trying to fix.

Alibaba and other Chinese companies are trying to expand overseas as growth slows at home.

Although David Beckham no longer plays football, he remains a popular figure in international sports, particularly in Europe and Asia.

Beckham spent most of his football career playing in England for Manchester United, but also had spells with football clubs Real Madrid in Spain and LA Galaxy in the US

Alibaba shares are up 3% over the past 12 months, trading at $81.26 per share. However, in five years the stock fell 46%.

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