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Alibaba eyes brick-and-mortar department store space

The e-commerce giant is increasingly looking at traditional brick-and-mortar businesses


After conquering grocery deliveries, Alibaba Group is setting its sights on a new part of China’s $4-trillion retail sector: Department stores. The e-commerce giant, which is also venturing into cloud computing and entertainment, is increasingly looking at traditional brick-and-mortar businesses, Chairman Jack Ma, Vice- Chairman Joseph Tsai and Chief Executive Officer Daniel Zhang said in interviews with Bloomberg News on the company’s 18th anniversary. Alibaba, started in Ma’s apartment in 1999, is worth $458 billion today. The executives, speaking less than a ...

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First Published: Sat, September 16 2017. 01:40 IST