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Alibaba invests $2.9B in hypermarket operator Sun Art to continue its offline retail push

Alibaba invests $2.9B in hypermarket operator Sun Art to continue its offline retail push

 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


Source: TechCrunch

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