E-commerce giant Alibaba Group and home appliance maker Haier have partnered online.
The two brands will work together to facilitate online sales and transportation logistics of household appliances and other large-sized goods.
Alibaba Group will invest a total of HK$2.8 billion (US$361.14 million) into Haier Electronics Group, a member company of the Haier Group.
Of the total investment, HK$1.9 billion will be invested into Haier Electronics’ subsidiary Goodaymart, where Alibaba is taking 9.9 per cent stake for HK$541 million (US$69.78 million).
The partnership will fully leverage Haier Group’s operational experience and Alibaba’s e-commerce, data and information capabilities to create a fast and convenient end-to-end e-commerce and logistics experience for customers.
“The aim of this partnership is not simply to grow the Goodaymart business but ultimately to enhance the experience for all participants in the logistics industry. Haier Group can learn a great deal from Alibaba through this partnership, and I’m confident that this collaboration will create concrete benefits for all involved,” said Haier Group CEO Zhang Ruimin.
Goodaymart has nine shipping bases nationwide, 90 logistics delivery centres and more than 2 million sqm in warehouse space. It has also established 7600 county-level stores, approximately 26,000 stores in various townships across the country and 191,000 village contact points.
Alibaba Group’s e-commerce platform Tmall.com reported that the GMV (gross merchandise value) of household appliances sold via Tmall.com increased by more than 350 per cent year-on-year, and the GMV of furniture and large-sized products sold rose by 150 per cent year-on-year on November 11.
