Alibaba Group and Metro announced an exclusive strategic deal under which Metro's official flagship store will enter Tmall.com, Alibaba's B2C e-commerce platform.
As a leading retailing group in Germany, Metro will join hands with Alibaba to implement close cooperation in product supply chains, cross-border e-commerce, and big data sectors; and the company will become an important partner for Alibaba's European strategy.
Zhang Yong, chief executive officer of Alibaba Group, said that by targeting Metro's complete supply chain system and offline stores, Alibaba will provide it with a business infrastructure in various sectors, including cross-border services, logistics, marketing, rural access, online supermarket sales, and integration of online and offline services to satisfy Chinese consumers' increasing demands for quality products.
At the same time, Alibaba and Metro will work together to help more local enterprises in Europe to access the Chinese market.
Olaf Koch, chairman of the management board of Metro, said that e-commerce is one of Metro's strategic channels to realize business growth in the Chinese market. The launch of flagship store on Tmall.com clearly represents their confidence in the Chinese market.
Financial terms of the deal were not released.