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Alibaba Group Holding Ltd. will invest about $3.6 billion to double its stake in Sun Art Retail Group Ltd., taking control of China’s largest chain of hypermarts to try and fend off rivals like JD.com Inc. in e-commerce’s hottest growth arena. Alibaba will…
Continuing momentum in Alibaba Group’s New Retail business helped drive a 56 per cent year-on-year growth in sales for the quarter to December 31. The performance of the New Retail category – which combines its online (non-marketplace) and fast-growing…
This week’s Alibaba-Sun Art deal is a major step in the development of a new retail landscape in China, write Wai-chan Chan and Jacques Penhirin of Oliver Wyman. This is not a “real estate play” with Alibaba buying 446 grocery stores, but shows how serious…
A new Alibaba, Auchan, Sun Art partnership will further strengthen Alibaba’s efforts to integrate online and offline, say analysts. China’s Alibaba Group Holding, France’s Auchan Retail and Taiwan’s Ruentex Group have formed a strategic alliance to bring…
Chinese hypermarket operator Sun Art Retail Group has bought a controlling interest in Fields Hong Kong, an online retailer of fresh foods and produce. No price was disclosed for the 54 per cent stake. Fields Hong Kong was established to provide an…
Chinese hypermarket operator Sun Art Retail Group says a move into lower-tier cities is bearing dividends. The group, a joint venture between French retailer Groupe Auchan SA and Taiwan’s Ruentex Group, says its profit rose 4.8 per cent last calendar year.…
