From Internet retailer
March 31, 2014
China e-commerce giant Alibaba Group bets $692 million on retail stores
The dominant company in online retailing in China is taking a stake in InTime Retail Group, which operates 36 department stores in China.
Allison Enright
Editor
Leading Chinese e-commerce marketplace operator Alibaba Group Holding Ltd. announced today that it is taking a stake in Chinese department store operator Intime Retail (Group) Co. Ltd. Alibaba’s $692 million investment will provide Alibaba with up to a 35% stake in the retail chain through a mix of direct equity and convertible bonds.
Intime Retail operates 36 department stores in mainland China. In a statement to investors, Intime Retail says the investment will allow it to develop its cross-channel sales capabilities: “It is the common goal of [Intime] together with the Alibaba Group as its strategic partner to develop online-to-offline business and provide a more convenient and impactful shopping experience. The joint venture will explore opportunities for expansion of online-to-offline business relating to shopping malls, department stores and supermarkets in the People’s Republic of China so as to further the Group’s omnichannel strategy to be a leading consumption solutions provider.” “Online-to-offline” is a term Chinese retailers use to describe online marketing programs that drive consumers into bricks-and-mortar stores.
Read more from Internet retailer >>
March 31, 2014
China e-commerce giant Alibaba Group bets $692 million on retail stores
The dominant company in online retailing in China is taking a stake in InTime Retail Group, which operates 36 department stores in China.
Allison Enright
Editor
Leading Chinese e-commerce marketplace operator Alibaba Group Holding Ltd. announced today that it is taking a stake in Chinese department store operator Intime Retail (Group) Co. Ltd. Alibaba’s $692 million investment will provide Alibaba with up to a 35% stake in the retail chain through a mix of direct equity and convertible bonds.
Intime Retail operates 36 department stores in mainland China. In a statement to investors, Intime Retail says the investment will allow it to develop its cross-channel sales capabilities: “It is the common goal of [Intime] together with the Alibaba Group as its strategic partner to develop online-to-offline business and provide a more convenient and impactful shopping experience. The joint venture will explore opportunities for expansion of online-to-offline business relating to shopping malls, department stores and supermarkets in the People’s Republic of China so as to further the Group’s omnichannel strategy to be a leading consumption solutions provider.” “Online-to-offline” is a term Chinese retailers use to describe online marketing programs that drive consumers into bricks-and-mortar stores.
Read more from Internet retailer >>
