Alibaba has purchased a 1.1% stake in Suning Commerce Group, an appliance and electronics retailer, for $4.6bn. The two companies will enter into a strategic collaboration agreement that will cover e-commerce, logistics and incremental business through joint channel initiatives, and Suning will open a flagship store on Alibaba's Tmall.com.
Alibaba has purchased a 20% stake in Suning Commerce Group, an appliance and electronics retailer, for $4.6bn. The two companies will enter into a strategic collaboration agreement that will cover e-commerce, logistics and incremental business through joint channel initiatives, and Suning will open a flagship store on Alibaba's Tmall.com.