The group is reported to increase its ownership stake in YTO Express, a Chinese courier firm. Looks to consolidate dominance in the global express delivery market According to a report by Reuters, Alibaba is currently negotiating with YTO Express ownership, as the former looks to consolidate its dominance in the global express delivery market. Alibaba currently owns a 10% stake YTO. Th...

Alibaba has announced its Q1 results for quarter ended June 30, 2020. Total revenue was up 34% to CNY153.8bn (US$21.8bn) YoY. Operations in China ‘fully recovered’ In a press release, Maggie Wu, Alibaba’s Chief Financial Officer, said,  “Our domestic core commerce business has fully recovered to pre-COVID-19 levels across the board, while cloud computing revenue grew 59% year-over-year. Our...

Capturing the growing trend of community stores in China, the retailer launched two new outlets in Beijing this month. Community-based format Compared to a standard Hema store (known as Freshippo outside China), Hema mini is much smaller in size and carries a smaller range: Store size: Hema mini 800 sq m vs. Hema 3,000 sq m SKU count: Hema mini 2,000 vs. Hema 6,000 There...