Alibaba extends New Retail push with US$693 million investment in STO Express

//Alibaba extends New Retail push with US$693 million investment in STO Express

Alibaba extends New Retail push with US$693 million investment in STO Express

Alibaba Group Holding’s latest investment in Chinese courier company STO Express comes as China’s largest e-commerce company looks to bolster its New Retail strategy of integrating online and offline shopping.The 4.66 billion yuan (US$693 million) investment in Shanghai-headquartered STO Express is Alibaba’s fourth investment in an express courier company. Before STO Express, Alibaba had taken minority stakes in Chinese courier firms YTO Express, ZTO Express and Best Inc.New York-listed Alibaba…

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By | 2019-03-11T10:16:25+00:00 March 11th, 2019|Technology|Comments Off on Alibaba extends New Retail push with US$693 million investment in STO Express