Menu
  • home
  • articles
  • asia
  • africa
  • east
  • market
  • contacts
AGENTS & Co

Alibaba Extends Bricks-and mortar Retail Push With Bailian Deal

Posted on 02/20/2017

Chinese tech giant Alibaba Group Holding Ltd has formed a strategic partnership with retail conglomerate Bailian Group, extending a push into bricks-and-mortar retail as online growth slows.

The move comes on the heels of a recent purchase of a stake in retailer Suning Commerce Group Co Ltd as well as plans to take a controlling stake in Intime Retail Group Co Ltd and privatize it.

There are currently no plans for financial investment, an Alibaba spokesman said.

Shanghai-based Bailian Group is one of China’s largest retailers by sales, operating 4,700 outlets in 200 cities including supermarkets, convenience stores and pharmacies. Alibaba has an active user base of around 500 million.

Shares in Bailian Group’s subsidiaries surged on Monday, with Shanghai Bailian Group Co Ltd climbing by the 10 percent daily limit, Lianhua Supermarket Holdings Co Ltd jumping close to 10 percent and Shanghai Material Trading Co Ltd up 5 percent.

Bailian and Alibaba will initially cooperate on supply chain technology using Alibaba’s big data capabilities as well as integrating Alipay payments with Bailian Group’s existing membership program.
…

share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to share on Skype (Opens in new window)

leave a reply Cancel reply

Domain Names, Domains, Hosting

newsline

  • ‘He’s Close to Us’: Wheelchair Users in Africa Await Pope 01/28/2023
  • Indian Air Force Jets Crash 01/28/2023
  • Women Who Lived as Sex Slaves to Indian Goddess 01/28/2023

news via email

enter your email address to subscribe and receive news by email

Starting at $9.99/Month
Get 20% off Internet Security Unlimited! Banking, browsing, shopping; extra protection for you.
Copyright © 2023  AGENTS & Co  All Rights Reserved
Support by wPress  •  TrueNet  •  seLLines  •  Купуй!  •  Dmnsa member  •  MeNeedIt