Chris Tung, chief marketing officer at BABA-SW (09988.HK), expressed that the "Taobao Maker Festival" (literal translation of "淘寶造物節") will be held from 17-25 July in the Shanghai National Exhibition and Convention Center, with the venue being curated to resemble an ancient Tang dynasty city to provide a new brand experience.
Tung remarked that the company was pleased to see many younger buyers and sellers joining Taobao, with the average age of the business participants of this year's festival recorded at 30.
Tung furthered that the festival is one of the biggest events of the company and that its purpose is not to promote fast sales but to support and encourage entrepreneurship and innovation among younger people.