Chinese Alibaba has acquired a 32 % stake in Sanjian Shopping Club, a chain with 160 discount supermarkets in China and supposedly more than one million members.
Slower online growth
Alibaba has paid two billion yuan (270 million euro) for the stake and says it has decided to invest in Sanjiang to benefit from its extensive store network and the company’s experience when it comes to store management.
The Chinese online giant has invested in offline chains before: last year the company invested in several retail companies, to counter the slower growth in eCommerce. Alibaba also has a 20 % stake in electronics retailer Suning, with more than 1,600 stores in China, and invested funds to help develop food delivery service Koubei.
