Alibaba and local retail conglomerate Bailian Group has announced a strategic alliance today to pushing forward partnership in new retail formats.
The two parties will share resources in terms of offline retail branches, merchandising capability, logistics facilities and Internet technologies.
In a bid to reshape the retail landscape, Internet giants like Alibaba and JD.com has been strengthening their presence in offline retail channels.
"We hope Alibaba and our partners would continue to leverage the Internet, data and payment capability to create new value for customers," said Alibaba CEO Daniel Zhang.
Ye Yongming, chairman and president of Bailian Group, said the two companies seek to lead a new wave of retail reformatting and to become a trailblazer in terms of strategic restructuring for its retail business operations.
Alibaba’s previous venture in offline retail include its share-swap deal with Suning Commerce Group and a privatization deal to merge with brick-and-mortar retail chain Intime.
Shanghai's social retail sales was up 8 percent annually to 1.09 trillion yuan in 2016. Enditem
A single purchase
