Alibaba invests $2.9B in hypermarket operator Sun Art to continue its offline retail push2017-11-202017-11-20https://texasnetworksolutions.net/wp-content/uploads/2017/10/tns_logo-a.pngTexas Network Solutions LLPhttps://texasnetworksolutions.net/wp-content/uploads/2017/10/tns_logo-a.png200px200px
Alibaba is continuing its expansion into offline retail after the Chinese e-commerce giant bought up more than one-third of one of Chinese most prolific operators of hypermarket stores. The firm announced today it has spent HK$22.4 billion (around US$2.88 billion) to acquire of 36.16 percent in Sun Art Retail Group, a Hong Kong-listed business that operates 446 hypermarkets across 224… Read More