Alibaba plans a brutal overseas expansion
The Alibaba e-commerce giant is preparing for a brutal overseas expansion, according to the company’s investment plans published by Reuters. Alibaba spends 100 billion yuan (about 3.9 billion HUF) in the next five years to expand and develop its logistics network.
Of this budget, 5.3 billion yuan will be invested into the Cainiao Smart Logistics Network, the largest alliance of Chinese logistics companies, whereby Alibaba will be 51 percent owner and will receive new seats in the board. With the capital injection, Cainiao will grow into a 20 billion USD business.
According to the news, the global expansion of Alibaba, may even affect Hungary. (index)
Related news
A new era in home delivery: GLS introduces a collection code
The convenience and security of home delivery will be increased…
Read more >Display 2.0 – the sales floor of the future
In-store display is becoming a smart device – we could…
Read more >Waberer’s acquired majority ownership in Pannon-Busz-Rent Kft.
Waberer’s International Plc. has entered the passenger transport market after…
Read more >Related news
Mango store with a unique concept opens in Allee
Mango has reopened its store in Allee in a new…
Read more >Tesco offers 30% discount on over 4,000 drugstore products
From June 5, more than 4,000 beauty, chemical and stationery…
Read more >Historic drop: Wizz Air’s share price collapses after weak interim report
The market reacted to Wizz Air’s latest interim report with…
Read more >