Retail News

Alibaba takes a stake in China’s second-largest grocer

The Wall Street Journal 11/19/2017

Alibaba Group Holdings will pay $2.88 billion for a 36 percent stake in Sun Art Retail Group Ltd., the second largest big-box retailer in China. Alibaba made the investment with the goal of expanding into fresh foods while creating greater demand for its Alipay mobile-payment technology and its logistics services.

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