Alibaba Invests Another $1.3 Billion into its Offline Retail Strategy

In The Daily Scoop by Lauren Parker, Accessories Magazine

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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