ALIBABA-GROUP
Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988, “Alibaba” or “Alibaba Group”) today announced it will invest approximately USD3.6 billion in respect of Sun Art Retail Group Limited (HKEX: 6808, “Sun Art”), a leading hypermarket and supermarket operator in China, that will raise its aggregate direct and indirect stake to approximately 72%1 . This transaction demonstrates Alibaba’s continued commitment to Sun Art, and its New Retail strategy by further integrating online and offline resources in China’s retail sector.
As part of the transaction, Alibaba will acquire 70.94% of equity interest in A-RT Retail Holdings Limited (“A-RT”) from Auchan Retail International S.A. and its subsidiary (“Auchan Retail”) valued at approximately HKD28.0 billion (USD3.6 billion). A-RT holds approximately 51% of the equity interest in Sun Art. Following the transaction, Alibaba will consolidate Sun Art in its financial statements. Additionally, Peter Huang has been appointed Chairman of Sun Art in addition to his current role as Chief Executive Officer.
Daniel Zhang, Chairman and Chief Executive Officer of Alibaba Group, said: “Alibaba’s strategic investment in Sun Art in 2017 was an important step in our New Retail strategy. The alliance we formed with Auchan Retail and Ruentex was instrumental in building a robust infrastructure to create opportunities and value in China’s retail sector. Led by Chief Executive Officer Peter Huang, Sun Art has achieved impressive results in its digitalization, and pursued promising synergies with businesses across the Alibaba digital economy. As the COVID-19 pandemic is accelerating the digitalization of consumer lifestyles and enterprise operations, this commitment to Sun Art serves to strengthen our New Retail vision and serve more consumers with a fully integrated experience.”
In November 2017, Alibaba Group, Auchan Retail and Ruentex Group announced a strategic alliance to digitalize and introduce New Retail solutions at Sun Art stores, including omnichannel integration and a more personalized customer experience. Over the past three years, Sun Art has made significant progress in the digital transformation under a fast-changing market environment by leveraging resources and technology from the Alibaba ecosystem, to capitalize on the growth opportunities in China’s hypermarket and supermarket space.
Today, all Sun Art physical stores in China have been integrated into Alibaba’s Taoxianda and Tmall Supermarket platforms, providing one-hour and half-day on-demand delivery through deep collaboration with other key businesses across the Alibaba ecosystem, including Ele.me and Cainiao, offering consumers greater product selection and access. As of June 30, 2020, Sun Art operates 481 hypermarkets and 3 mid-size supermarkets in China, with a focus on strengthening its position through small and offline community stores.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba and that it will be a good company that lasts for 102 years.
1 Including the stake held by Alibaba Group and its related party.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201018005074/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
OCTO Revolutionizes Vehicle Safety with AI: Introducing the Proactive and Predictive Anti-Theft System10.12.2025 10:00:00 CET | Press release
Anticipating a theft before it happens. This is the goal of OCTO’s new predictive anti-theft system, developed by the global leader in telematics and data analytics solutions for connected mobility. The new technology combines artificial intelligence, machine learning, and advanced sensors to deliver real-time, personalized vehicle protection capable of recognizing risk signals before a theft event occurs. Drawing on more than 22 years of experience and 610 billion kilometers of driving data, the system transforms the paradigm of vehicle security from reactive to proactive. This approach enables prevention rather than mere response, increasing protection for both private vehicles and corporate fleets. The main features include: Tampering detection: sensors identify attempts to access or remove the devices. Abnormal vehicle movement: the system detects vehicle dragging or lifting while the engine is off. Loss of connection between the devices installed on the vehicle: when one of the tw
Tecnotree Emerges as CX Catalyst Winner for Impact at The Fast Mode Awards 202510.12.2025 09:55:00 CET | Press release
Tecnotree, a global digital platform and services leader for AI, 5G, and cloud-native technologies, has won the CX Catalyst award for Impact at The Fast Mode Awards 2025. The awards, hosted by leading independent media, research, and analysis platform The Fast Mode, recognises industry visionaries and transformative innovations redefining the global telecoms space. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251210927009/en/ Tecnotree Emerges as CX Catalyst Winner for Impact at The Fast Mode Awards 2025 Tecnotree’s award‑winning CX platform delivers omnichannel engagement for operators across voice, SMS, social media, chat, web, and in-app channels. The solution uses AI- and ML-driven analytics to identify customer behaviour, preferences and lifecycle stages — enabling proactive engagement and churn prevention. Real-time personalization and decisioning ensure context-aware interactions, while campaign orchestration unifie
Tyk Marks 10 Years in Business by Proving British Tech Can Grow Responsibly10.12.2025 09:30:00 CET | Press release
Tyk, the independent UK software company powering millions of digital transactions worldwide, is marking its tenth anniversary with B Corp certification - a milestone that recognises a decade of growth built on purpose, not hype. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209886821/en/ Tyk Founders, Martin Buhr (Left), James Hirst (Right) Founded in London in 2014 by Martin Buhr, Tyk began as a one-man side project and has grown into a company of 150 people in 30 countries. Its API management platform now underpins the digital infrastructure of banks, retailers and telcos across more than 100 markets including NatWest, SoundCloud, Zeiss, T-Mobile and Dollar General, powering over 100 million people’s financial transactions daily. From its inception, Tyk has challenged the conventions of the tech industry. It built a profitable business without offices or a “growth at all costs” mentality, long before remote-first work
Sainte Catherine, Institut du Cancer Avignon-Provence (ICAP), Becomes the First Center in Europe to Implement the Varian Latest Halcyon Advancements with Identify integration, PerfectKinetix Dynamic Couch and HyperSight for Personalized Radiotherapy10.12.2025 09:00:00 CET | Press release
Institut du Cancer Avignon-Provence (ICAP), and Varian, a Siemens Healthineers company, announced today the first European installation of the Halcyon version 5.0 radiotherapy platform, combined with IDENTIFY real-time motion management, and the PerfectKinetix Dynamic Couch. This milestone marks a significant step forward in delivering more precise, efficient, and personalized radiotherapy, while enhancing the overall patient experience. The latest evolution of Varian’s Halcyon platform brings together enhanced patient positioning, real-time motion management with IDENTIFY, and embedded high-quality HyperSight imaging. ICAP’s adoption of this ecosystem reflects its commitment to offering patients in the region access to the latest innovations in radiation oncology. Advancing Personalized Care The combination of Halcyon 5.0 and IDENTIFY 5.0 enables clinicians to deliver treatment more effectively by supporting individualized care plans. IDENTIFY* integration is designed to improve posit
L&T Technology Services, PALFINGER Inaugurate GDC as Part of Multi-Year Engagement to Accelerate Product Development10.12.2025 08:30:00 CET | Press release
The GDC, established in LTTS’ Mobility segment, will strengthen PALFINGER’s localization roadmap and next-gen digital transformation initiatives L&T Technology Services (BSE: 540115, NSE: LTTS), a global leader in AI, Digital & ER&D Consulting Services, today announced the inauguration of a state-of-the-art Global Development Center - APAC as part of a multi-year engagement with PALFINGER, an Austria-headquartered global pioneer in innovative crane and lifting solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209416315/en/ From PALFINGER, the ceremony was attended by Alexander Susanek (COO), Andreas Hille (Senior Vice President, Product Line Management and Engineering), Santhosh Rao (Senior Vice President Regional Sales & Service, Asia Pacific) and Arun C Bhongale (General Manager, SCM and Procurement). From LTTS, Mritunjay Singh (COO), Dr. Oliver Moron (Vice President, EU-DACH), Mohideen Farouk (Sales Director, E
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom