After Spell as Rivals, E-Commerce Giants, Traditional Stores Join Forces
(Beijing) – JD.com Inc. and Alibaba Group Holding Ltd., China's top two e-commerce companies, are gearing up to expand their business beyond the Internet by signing partnership deals with offline retailers, a move analysts say is indicative of broader changes in the sector.
On August 10, Alibaba announced it was spending 28.3 billion yuan for a 19.99 percent stake in Suning Commerce Group Co. Ltd., a leading home appliance retailer. In turn, Suning will invest 14 billion yuan to acquire 1.1 percent stake in Alibaba.
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