Alibaba Invests Another $1.3 Billion into its Offline Retail Strategy

In The Daily Scoop by Lauren Parker, Accessories MagazineLeave a Comment

Alibaba has furthered its physical retail footprint after it invested another billion dollars into projects to develop its so-called “new retail” strategy which combines online and offline.

The Chinese firm, the dominant e-commerce player in its country, gobbled up a 15 percent stake in Beijing Easyhome Furnishing for RMB 5.45 billion, or around $867 million, and pumped $486 million into a big data retail firm in two deals announced over the weekend.

Beijing Easyhome operates 223 physical home furnishing and DIY-style stores across 29 provinces in China, which it claims makes it the country’s second largest in its field.

Read more at Tech Crunch

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