Alibaba Group news

10 September 2020
China's largest retailer, Sun Art Group, a joint venture between Auchan and the Ruentex group, opened its first supermarket in September. Developing a multi-channel and multi-format business On 1 September, RT-Mart's first supermarket, RT-Mart Super, is opened in Changzhou. This is RT-Mart's first medium-sized store. With a sales area of 3,900 Sq m, the store carries more than 1,500 SK...
02 September 2020
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...
21 August 2020
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...
27 July 2020
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...
08 July 2020
Beyond Meat has teamed up with Freshippo to launch its products in the Alibaba Group-owned New Retail supermarket. A milestone for the brand Los Angeles-based Beyond Meat has launched its flagship Beyond Burger – a plant-based meat burger designed to replicate the flavor and texture of a hamburger patty – in 50 Freshippo stores in Shanghai. The brand will later roll out the product more bro...
29 June 2020
Alibaba Group has named Chun Li as Group Chief Executive Officer of Lazada, effective from 1 st July 2020. An experienced leader Li joined Alibaba as chief technology officer for the company’s B2B division in 2014 and moved to Lazada in 2017. He has since served as both group president and CEO of Lazada Indonesia. Li held leadership positions at Paypal and eBay prior to joining Alibaba. “...
19 June 2020
Alibaba and JD.com handled US$136.5bn of sales through their platforms during 6.18, an annual online shopping festival in China that runs from 1 st June to 20 th . Strong numbers show retail is recovering For 6.18, Alibaba achieved gross merchandise value (GMV) of CNY698.2bn (US$98.5bn), over double what it achieved on Singles Day (2020 11.11) last year, which posted record GMV of CN...
03 June 2020
The annual 6.18 Mid-Year Shopping Festival was kicked off on 1 June, which is China’s largest online retail promotion since the outbreak of COVID-19. Equivalent to 11.11 Singles Day The event, which runs until 20 June, was launched by JD.com 17 years ago as the anniversary of JD.com. Since then, it has become an online shopping festival for major ecommerce players. It is the equivalent to...
22 May 2020
Alibaba has posted its financial results for the fiscal year ended March 31, 2020. Total revenue was up 35% to CNY509,711m (US$71,985m) YoY. Robust top line figures for the fiscal year GMV transacted in the Alibaba Digital Economy was CNY7,053bn (US$1tn), CNY6,589bn (US$945bn) of which came from China retail marketplaces Core commerce revenue up 35% YoY to CNY436,104m (US$61,130m) ...
19 May 2020
Alibaba is closing its Freshippo Fuzhou Bona Plaza and Chating International stores, withdrawing from Fuzhou the capital city of Fujian province in China. Demand and supply chain challenges Freshippo mainly caters to middle and high-end consumers. Despite Fuzhou having a high consumption level, the absolute values of these groups are limited, unlike Shenzhen for example. Fierce competition ...