Alibaba invests $2.9 billion in China’s top retail market
Everyone is familiar with the renown and of the world’s largest e-commerce site that is Alibaba. From the past few years, the worth of this platform has reached above the sky. There are thousands of investors who want to contribute their money to this platform. But, Alibaba is thinking of a very great plan that is going to create outstanding profits for it. As Alibaba has made its name in the e-commerce now, it wants to hit the retail and grocery stores of China.
China has the world’s most significant market share, and the investors make enormous profits investing here. China produces 85% sales offline that has attracted many financiers. Sun Art Retail Group is one of the leading brand, retail and grocery market of China that is the target of Alibaba. Well, it has been announced that the Alibaba is going to invest their $2.87 billion in this great hypermarket of China. Alibaba’s mission has always been to make the shopping experience of people unforgettable. Now, they want to take their vision in the offline market where they have to work a lot in making the offline shopping experience fantastic for everyone.
The team of the Alibaba has always been working hard in spreading happiness to the people who shop from their site by providing them what they need in the best quality. Now they want to help people out in their offline shopping where Alibaba can spread happiness again. Heading on, there are three shareholders of the China’s Sun Art retail group now. The Alibaba has the 36.16% share, the other 36.18% share is in the hands of Groupe Auchan, and Taiwanese conglomerate Ruentex holds the last 4.67% share.
Now Alibaba is the second big shareholder of the China’s biggest retail and grocery market. Other than that, Alibaba has been working on many café, restaurants and grocery stores. Alibaba has also invested in some other physical stores. The total amount spent on the physical stores reached up to $9.3 billion in 2015. Now, the Alibaba is beyond expectation in the stock market after putting its hand on the great China’s Sun Art retail group.