Alibaba today announced a joint venture with New Huadu Supercenter, a grocer in Fujian province, to create a physical retail presence. Alibaba plans to invest CNY100bn ($15bn) into worldwide logistics over the next five years, starting by increasing its stake in logistics company Cainiao to 51%. Alibaba's aim is to “build the most efficient logistics network in China and around the world", said CEO Daniel Zhang. In Europe, the firm is looking to build a second data centre, putting it in direct competition with Amazon for market share on cloud computing services. The Chinese e-commerce giant has also been investing heavily in logistics, including building an office campus near Shanghai that will house 10,000 employees.
Alibaba plans to invest CNY100bn ($15bn) into worldwide logistics over the next five years, starting by increasing its stake in logistics company Cainiao to 51%. Alibaba's aim is to “build the most efficient logistics network in China and around the world", said CEO Daniel Zhang. In Europe, the firm is looking to build a second data centre, putting it in direct competition with Amazon for market share on cloud computing services. The Chinese e-commerce giant has also been investing heavily in logistics, including building an office campus near Shanghai that will house 10,000 employees.