Alibaba Group news

20 October 2020
Last week, Alibaba Group President Michael Evans joined NRF President and CEO Matthew Shay to discuss Alibaba’s response to COVID-19, and how the pandemic has altered the retail landscape in both the short term and long term. We share some of the key highlights. What has been the journey for Alibaba and its merchants since Feb 2020? Alibaba has been adjusting the business to respond to the ...
19 October 2020
Alibaba is investing approximately US$3.6bn to double its stake in Sun Art to 72%, taking control of the largest retailer in China. Alibaba is purchasing the stake from Auchan, which on completion of the sale will see it exit the Chinese market. Alibaba strengthening bricks-and-mortar presence Auchan has accepted Alibaba’s offer to acquire its remaining c.36% stake in Sun Art. Alibaba acqui...
09 October 2020
Alibaba is set to acquire a stake of around 10% in travel duty-free company Dufry. New Retail and digital transformation Full details of the deal have not yet been disclosed. It would, include, however, a new joint venture setup (51% owned by Alibaba and 49% by Dufry). As part of the JV, Dufry will contribute its existing travel retail business in China. Dufry is the world’s largest duty...
30 September 2020
Joining the competition with Costco and Walmart’s Sam’s Club, the retailer opens its first membership-only wholesale store in Shanghai. Challenging Sam’s Club and Costco The new wholesale store, known as X store, opens in Shanghai on 1 October. Goods bought in the X store can be delivered in half a day if the customer lives within a 20-km radius from it. “ We hope we can improve our capa...
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. “...