# Who are Alibaba Group's customers? Who does Alibaba Group earn revenue from?
Canonical: https://valuechain.wiki/alibaba · Facet: customers · Updated: 2026-09-24T12:56:02.201956+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Alibaba Group's confirmed revenue counterparties include LVMH (Tmall and cloud AI), Apple (iPhone AI in China), Beijing Kingsoft Office Software plus 3 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 6 revenue edges, backed by 8 dated sources, 2 of them primary filings (as of 2026-09-24).

### 중국 이커머스 소비자·판매자 (타오바오·티몰 집계) (high)
- metric: segment revenue 449,827 RMB M · FY2025
- note: The core cash cow. Of FY2025 Taobao and Tmall Group revenue of RMB 449,827M (+3%), China commerce retail was RMB 425,526M, with merchant-paid customer management revenue up 6%.
- [mentions] Barclays (via Investing.com) (KO, research, published 2026-05-20) https://kr.investing.com/news/analyst-ratings/article-93CH-1944318: "Re-rating thesis of cloud/AI growth atop the core-commerce cash cow"
- [confirms] SEC EDGAR (Alibaba Group) (EN, filing, published 2025-06-26) https://www.sec.gov/Archives/edgar/data/1577552/000095017025090161/baba-20250331.htm: "Annual report confirming Taobao/Tmall segment revenue in audited financial statements."
- [confirms] SEC EDGAR (Alibaba Group) (EN, filing, published 2025-05-15) https://www.sec.gov/Archives/edgar/data/1577552/000110465925049400/tm2515233d1_ex99-1.htm: "China commerce retail revenue was RMB425,526 million in FY2025 (+3%); customer management revenue rose 6% YoY."

### 해외 커머스 소비자 (알리익스프레스·트렌디올 집계) (high)
- metric: segment revenue 132,300 RMB M · FY2025
- note: International Digital Commerce grew 29% to RMB 132,300M in FY2025; international retail was RMB 108,465M (+33%), driven by AliExpress and Trendyol.
- [confirms] SEC EDGAR (Alibaba Group) (EN, filing, published 2025-05-15) https://www.sec.gov/Archives/edgar/data/1577552/000110465925049400/tm2515233d1_ex99-1.htm: "International commerce retail revenue was RMB108,465 million (+33%), driven by AliExpress and Trendyol."

### 클라우드 고객 (기업·개발자 집계) (high)
- metric: segment revenue 118,028 RMB M · FY2025
- note: Cloud Intelligence revenue RMB 118,028M (+11%) with adjusted EBITA up 72%; AI-related product revenue grew triple digits for seven straight quarters, with March-quarter growth accelerating to 18%.
- [mentions] Barclays (via Investing.com) (KO, research, published 2026-05-20) https://kr.investing.com/news/analyst-ratings/article-93CH-1944318: "Barclays Overweight, target $195; AliCloud +38% in the March quarter, AI ARR targeting RMB 30bn by year-end"
- [confirms] SEC EDGAR (Alibaba Group) (EN, filing, published 2025-05-15) https://www.sec.gov/Archives/edgar/data/1577552/000110465925049400/tm2515233d1_ex99-1.htm: "Cloud Intelligence Group revenue was RMB118,028 million (+11%); AI-related product revenue grew triple digits for a seventh consecutive quarter."

### LVMH (티몰·클라우드 AI) (high)  → /lvmh.md
- note: About 30 LVMH maisons sell on Tmall Luxury Pavilion; the May 2024 extended partnership deploys Alibaba Cloud generative AI (Qwen) across 30+ brands including Sephora APAC and DFS. Value undisclosed.
- [confirms] LVMH (EN, ir, published 2024-05-22) https://www.lvmh.com/en/news-lvmh/lvmh-redefines-luxury-retail-experience-in-china-with-a-new-extended-partnership-with-alibaba: "Around 30 maisons partner with Tmall Luxury Pavilion, leveraging Alibaba's cloud technologies."
- [confirms] WWD (EN, news, published 2024-05-22) https://wwd.com/business-news/technology/lvmh-alibaba-group-ai-partnership-1236393763/: "Covers 30+ brands including Sephora APAC and DFS; LVMH began incorporating Alibaba Cloud's Qwen."

### 애플 (중국 아이폰 AI) (mid)  → /apple.md
- note: Apple chose Alibaba (Qwen-based) as its AI partner for iPhones sold in China, confirmed by Chairman Joe Tsai (Feb 2025); rollout delayed by regulatory review, terms undisclosed.
- [confirms] CNBC (EN, news, published 2025-02-13) https://www.cnbc.com/2025/02/13/apple-will-integrate-alibabas-ai-into-iphones-in-china-chairman-joe-tsai-says.html: "Apple talked to a number of companies in China, and in the end, they chose to do business with us. They want to use our AI to power their phones."
- [confirms] Kyunghyang Shinmun (KO, news, published 2025-02-12) https://www.khan.co.kr/article/202502121144001: "Apple is working with Alibaba to bring AI features to iPhones in China; the co-developed features were submitted for regulatory approval."

### 킹소프트 오피스 (low)  → /beijing-kingsoft-office-software.md
- note: Supplies Tongyi Qianwen (Qwen) LLM API to Kingsoft Office's WPS AI Hub (commercial terms undisclosed).
- [mentions] InfoQ China (ZH, news, published 2025-01-15) https://www.infoq.cn/article/pg1og0e8kcobqm1r04xw: "WPS AI Hub integrated models include Alibaba Tongyi Qianwen"

Reverse side: https://valuechain.wiki/alibaba/suppliers.md · Ripple: https://valuechain.wiki/alibaba/ripple.md

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