Alibaba and A Nanjing-based Supermarket Form Joint Venture

 

Via caixinglobal.com

A regional supermarket group has partnered with Alibaba to set up a new retail joint venture, continuing the e-commerce giant’s push to blur the distinction between online and offline shopping.

Jiangsu province-based Nanjing Central Emporium has signed an agreement with Beijing Yintai Investment Co. Ltd., a retail subsidiary of Alibaba Group Holding Ltd., to set up a new company, New Retail Development Co.

By cooperating with Alibaba, Nanjing Central Emporium “can facilitate the process of transforming into a ‘new retail’ supermarket group and take advantage of Alibaba’s offline businesses in Jiangsu,” the supermarket group said in a statement on Wednesday.

 

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