With discounts galore and Taylor Swift, Alibaba eyes another record Singles' Day

A logo of Alibaba Group is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. [REUTERS/Aly Song/File Photo]

Alibaba Group will kick off its annual 24-hour shopping extravaganza on Monday with deals and deep discounts galore, and a performance by American popstar Taylor Swift to top it all, as it pushes to rake in another record Singles’ Day sales.

This year’s Nov. 11 bash comes as the $486 billion Chinese retail juggernaut navigates through a major turning point, the resignation in September of its flamboyant co-founder Jack Ma as chairman, and looks to raise up to $15 billion via a share sale in Hong Kong as early as this month.