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Alibaba buys stake in home improvement business
(MENAFN) Alibaba will be paying CNY5.5 billion for a 15 percent stake in a local home improvement chain, Easyhome.
Based on the agreement, Alibaba will help digitalize Easyhome's outlets and "improve customer experience."
Beijing-based Easyhome had 223 stores across the country at the end of last year, recording sales of over CNY60 billion in 2017.
The e-commerce giant has invested in the retail sector in recent years, covering home appliances, digital products, fast-moving consumer goods, catering and home improvements.
Based on the agreement, Alibaba will help digitalize Easyhome's outlets and "improve customer experience."
Beijing-based Easyhome had 223 stores across the country at the end of last year, recording sales of over CNY60 billion in 2017.
The e-commerce giant has invested in the retail sector in recent years, covering home appliances, digital products, fast-moving consumer goods, catering and home improvements.
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