Alibaba, a Chinese e-commerce firm announced that it is buying 15% stake in Beiging Easyhome Furnishing Chain Store Group Co. Ltd. And the deal is worth 5.45 billion yuan. Easyhome is China’s second-largest home-improvement supplies and furniture chain and this investment is made by Alibaba to leverage online and offline retailing.
“The investment is in addition to the success that Alibaba has already achieved in industries of electronics and home appliance, fast-moving consumer goods and grocery, fashion and department stores, and catering,” Alibaba said in a statement. “Alibaba’s new retail is fast becoming an indispensable component of people’s daily life.”
Easyhome runs 223 stores in 29 provinces and autonomous regions across China and their sales in 2017 was over 60 billion yuan. Alibaba mentioned that in order to help the chain’s own digital transformation Easyhome will utilize the new cash infusion and broader partnership.
Recently, Alibaba announced that it would acquire Sun Art Retail Group Ltd, a traditional hypermarket operator. To elevate efficiency and convenience, Alibaba made high-tech touches and moved aggressively into traditional retail concepts. That is not all! Alibaba recently also released smaller automated traditional retailing concepts like vending machines that sells fresh live crabs and this product is usually sold in seafood markets and supermarkets.