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Jack Ma is ahead of Jeff Bezos in grocery store ambitions

Alibaba had been quietly incubating its Hema grocery store concept for two years

Selina Wang | Bloomberg 

For years, it looked to some like Ma's Alibaba Group Holding was simply following in the footsteps of Bezos' Amazon.com, the world's largest e-commerce company. Just like Seattle-based Amazon, China's online shopping giant started a cloud-computing business and created original entertainment content. But when Amazon's $13.7 billion bid for Whole Foods Market sent shockwaves across the retail industry, Ma looked prescient.   Alibaba had been quietly incubating its Hema grocery store concept for two years. It rolled out three new locations last month, bringing the ...

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First Published: Sat, August 19 2017. 02:02 IST
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