Alibaba Group (BABA.N) 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.

Axar.az reports citing Reuters.

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.

Akin to Black Friday and Cyber Monday in the United States, Singles’ Day, a shopping fest originally promoted by Alibaba Chairman and CEO Daniel Zhang in 2009, has since grown rapidly to become the world’s biggest online sales event.

Alibaba saw sales worth $30 billion on its platforms on Singles’ Day last year, dwarfing $7.9 billion U.S. online sales for Cyber Monday. Yet, the 27% sales growth was the lowest in the event’s 10-year history, spurring a search for fresh ideas.

“This year will be the 11th 11.11 festival, with more than 200,000 brands participating, one million new products on offer and over 500 million users are expected to participate – about 100 million more than last year,” Alibaba said in a statement.