Alibaba strengthens the stranglehold of Chinese buyers

The technology titan is looking to increase its services shopping offline and gain more ground in the retail market booming China.

Alibaba already Player Ecommerce China's largest and owns Taobao, the largest online marketplace for the world

Art Sun is controlled by a unit of investments Mulliez family - .. one of the richest families in France

Alibaba will pay HK $ 28 bn (US $ 3.6 billion, £ to increase its stake in Sun art Hong Kong-listed 21% to 72% according to a company statement. Css-1pzprxn-BulletListContainermargin-left: 1.5rem; CSS-1pzprxn-BulletListContainer

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    brands Auchan hypermarket operator and RT-Mart, art Sun has 481 hypermarkets and three supermarkets medium sized in China.

    Alibaba formed a strategic alliance with the supermarket chain in 2017 to digitize its stores and invested HK $ 22.4bn in the company at that time. Remodeling purchases

    "As the Covid-19 pandemic is accelerating the digitization of the lifestyles of consumers and business operations, this commitment to art Sun serves to strengthen our new vision business and serve more consumers a fully integrated experience, "said Daniel Zhang, president and CEO of Alibaba.

    All physical stores Sun art have been integrated into Alibaba platforms, providing an hour and a half day delivery on demand.

    this is through a partnership with other companies Alibaba including your platfo food delivery service online rm and Cainiao, a subsidiary of logistics.

    Alibaba is also becoming a major player in the world of online payments and financial technology branch Ant Group is expected to list its shares in Hong Kong and China later. this month

    could be the largest IPO ever initial (IPO) as it is reported to have a goal of $ 35 billion capital raising Related topics margin : calc. (0.5rem / 2);

  • China
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