updated - February 22, 2019 Friday EST
Alibaba forms strategic partnership with Bailian Group, the largest retailer by store numbers.
China's Alibaba Group Holding (BABA, -0.30%) said it formed a strategic partnership with Bailian Group, the largest retailer by store numbers to join the e-commerce giant's drive to use big data to improve and profit from brick-and-mortar sales.
The deal, which does not include any financial investment in Bailian, is the latest in Alibaba' s still nascent efforts to capture a bigger share of the retail market as online sales growth slows.
It has also spent $4.6 billion on a minority stake in appliances retailer Suning Commerce Group, is leading a $2.6 billion bid to take department store and shopping mall operator Intime Retail Group private and has bought a stake in grocery chain Sanjiang Shopping Club.]
TOP 10 FRANCHISES OF 2019