The Digital Source For China's Tech Innovation Since 2000

Search
Close

Alibaba Takes Stake In Chinese Supermarket Chain

June 15, 2017
Business | Internet

Alibaba owns the online e-commerce world in China, replete with payment solutions, online merchandise, and logistics. And now the company is aiming at the offline world of Chinese supermarkets.

Alibaba and the Internet fresh food platform Yiguo signed an equity transfer contract, under which Alibaba will purchase 18% shares of Lianhua Supermarket from Yiguo.

According to a report published by Bailian Group, Alibaba will gain 201,528,000 Lianhua domestic shares, making it the second largest shareholder of Lianhua. Meanwhile, Yiguo will still hold a 1.17% stake in Lianhua.

Lianhua Supermarket is a related company of Shanghai Bailian. It was launched in 1991 and it mainly operates hypermarkets, supermarkets, and convenience stores. By December 31, 2016, Lianhua Supermarket and its subsidiaries had a total of 3,618 stores, covering 19 provinces and municipalities in China.

In February 2017, Alibaba Group and Bailian Group announced a strategic cooperation in Shanghai. The two parties said that based on big data and Internet technologies, they would seek full cooperation in six sectors, including full business integration and innovation, new retail technology development, high-efficiency supply chain integration, membership system interoperation, payment and finance interconnection, and logistics system collaboration. However, they did not mention capital cooperation at that time.

Alibaba Group said that they will rebuild new retail smart stores with big data in the future to improve consumer experience and business operation efficiency.

At present, the two parties are discussing specific plans for their supermarket business cooperation. Lianhua Supermarket's 3,618 stores around China are expected to be the first to have new retail distribution and transformation.

Tags: acquisition | Alibaba | Bailian Group | big data | Cloud Computing | e-commerce | Internet shopping | investment | Lianhua | online shopping | retail | supermarket | Yiguo

Other Related News:

Sandy Spring Bank Purchases 4,314 Shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

September 6, 2021

AMF Pensionsforsakring AB Has $3.36 Million Position in Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Watch List News

December 27, 2021

PepsiCo Will Sell Oat Beverages Via China's JD.com

August 26, 2015

Chinese tech giant Alibaba fires employee who claimed sexual assault

December 15, 2021

APAC Teams With Netcraft To Fight Phishing Websites In China

October 28, 2009

Haier To Open 1,500 Chinese Specialty Stores

September 8, 2008

Huawei's Data Center And Innovation Labs Bring Investment To New Zealand

March 30, 2017

Getting Taken For A Ride At Ctrip

July 1, 2004

Chinese Law Enforcement Agency Have Reportedly Seized $1.7 Billion Worth of Crypto

January 15, 2022
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
Menu
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2022 ChinaTechNews.com. A Service of Asia Media Network.
Twitter
Posting....