Alibaba buys control over 500 of Auchan and RT-Mart hypermarkets



Alibaba will invest $3.6 billion in Sun Art hypermarket chain and increase its share to 72%.
Auchan Depositphotos

Alibaba will acquire a 70.94% stake in A-RT Holdings, which is owned by the French holding company of the French family Mouliers and controls 51% of Sun Art. Alibaba already owns 21% of Sun Arts and will increase its share to 72%.

Sun Art operates a network of 484 hypermarkets in China under the Auchan and RT-Mart brands. In 2017, Alibaba has entered into a strategic alliance with Sun Art and invested 22.4 billion Hong Kong dollars ($2.8 billion) in the chain. Alibaba integrated Sun Art's offline stores into its platforms - Taoxianda, Tmall, and Elie.me - and began product delivery.

Alibaba is seeking to blur the boundaries between online and offline commerce by turning traditional stores into online ordering outlets and integrating supply chains, the publication notes.

RT-Mart Depositphotos

"As the COVID-19 pandemic accelerates the digitalization of consumer experience and corporate operations. The acquisition of Sun Art chain shares will strengthen our vision for a new retail model. The deal offers our consumers a fully integrated experience," said Alibaba chairman and CEO Daniel Zhang.

Following the transaction's announcement, the value of Sun Art's shares on the Hong Kong Stock Exchange increased 18 percent to HK $ 9.4 ($1.2) per share, TechCrunch said.

Other Chinese e-commerce companies are taking a similar approach to integrate offline and online purchases, the publication notes. For example, JD, Alibaba's main competitor, has formed alliances with supermarket chains Yonghui and Walmart.

Photo credit: depositphotos.com.

More about shopping malls in China



YESTERDAY, USA:
Families will be able to participate in a 10-minute interactive video tour of Cane Institute at the North Pole for only $20.
YESTERDAY, USA:
Retail Ecommerce Ventures (REV), which owns Pier 1, Dressbarn, and Modell's Sporting Goods, will buy the bankrupt Stein Mart chain of department stores.
YESTERDAY, United Kingdom:
Iceland supermarket chain is ready to support distribution by its logistics chain for frozen food.
YESTERDAY, United Kingdom:
Debenhams, Primark, and Marks&Spencer were able to receive a record number of customers.
DAY BEFORE YESTERDAY, United Kingdom:
The retailer decided the day after the bankruptcy of the primary tenant - the owner of Topshop brand.
DAY BEFORE YESTERDAY, USA:
Sephora stores will open in department stores of about 115 square meters.
Friend
and Follow
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us