Alibaba buys stake in Chinese supermarket chain as it continues offline push
Alibaba, operator of the world’s largest ecommerce platform, is to purchase a stake in Lianhua Supermarket chain as part of the brand’s ‘new retail’ strategy.
Alibaba will take an 18% stake in Lianhua, which is one of China’s leading supermarket chains and is owned by retail giant Bailian Group. The deal sees Alibaba become the second-largest shareholder in Lianhua, which has over 3,600 stores across China.
The investment expands on Alibaba’s collaboration with Bailian Group after the two companies signed a strategic partnership in February to integrate the offline stores with Alibaba’s online experience to create a better Read full story ›
Source: The Drum
