Alibaba extends bricks-and mortar retail push with Bailian deal
Chinese tech giant Alibaba Group Holding Ltd has formed a strategic partnership with retail conglomerate Bailian Group, extending a push into bricks-and-mortar retail as online growth slows.
The move comes on the heels of a recent purchase of a stake in retailer Suning Commerce Group Co Ltd as well as plans to take a controlling stake in Intime Retail Group Co Ltd and privatize it.
There are currently no plans for financial investment, an Alibaba spokesman said.
Shanghai-based Bailian Group is one of China's largest retailers by sales, operating 4,700 outlets in 200 cities including supermarkets, convenience stores and pharmacies. Alibaba has an active user base of around 500 million.
More details in http://www.reuters.com/article/us-alibab...SKBN15Z08C