;
Home / Knowledge / News / Apparel/Garments / Alibaba Group & Fung Retailing form strategic partnership

Alibaba Group & Fung Retailing form strategic partnership

09
Nov '18
L-R: Sabrina Fung, Group MD of Fung Retailing Ltd; Dr. Victor Fung, Group chairman of Fung Group; Daniel Zhang, CEO of Alibaba Group; and Toby Xu, VP of Alibaba Group
L-R: Sabrina Fung, Group MD of Fung Retailing Ltd; Dr. Victor Fung, Group chairman of Fung Group; Daniel Zhang, CEO of Alibaba Group; and Toby Xu, VP of Alibaba Group
With an aim to enhance access to massive Chinese market for global brands, Fung Retailing Ltd, with a global network of over 3,000 stores, and Alibaba Group Holding Ltd have announced a strategic partnership. The collaboration aims to meet the increasing demand of Chinese consumers, building on the strengths of both parties in online and offline retailing.

In addition to bringing more international lifestyle brands to mainland China, the partnership will better serve global brands by leveraging Fung Retailing’s global portfolio of brands, offline retail channels and marketing know-how, as well as Alibaba’s ecosystem, digital retail leadership, technology, and consumer insights from Alibaba’s over 600 million users.

The partnership will help global brands tailor their product development and marketing strategies to meet the ever-changing needs of Chinese consumers. “The brands can also draw on Alibaba’s new retail channels, including Tmall and Intime, as well as Fung Retailing’s offline stores, thereby reducing costs, risks, and the time traditionally associated with entering the China market,” the companies said in a joint press release.

Under the memorandum of understanding (MoU), both companies will join forces in global brand recruitment and offer brands merchandising, marketing and omnichannel distribution services. The collaboration will focus on the mainland China market as a first step, and potentially expand to other regions riding on Alibaba’s platforms.

“It is an honour to kick off full-scale strategic cooperation with Fung Retailing at the historic China International Import Expo (CIIE). We endeavour to help global brands expand their foothold in the China market by fully integrating Alibaba’s strong capabilities in New Retail, big data and technology with Fung Retailing’s unparalleled advantageous in brand and supply chain resources. We believe this partnership represents the beginning of a new chapter for New Retail,” said Alibaba chief executive officer Daniel Zhang during the signing ceremony at the CIIE in Shanghai.

Fung Retailing’s group managing director Sabrina Fung said retail is changing exponentially, so it’s important to stay ahead of the curve, which this agreement allows it to do.

“Through this exciting strategic partnership with Alibaba, we will help customers navigate the full Chinese retail economy and reach China’s 1.4 billion consumers more easily. In this evolving retail landscape and faced with changing consumer behaviour and disruptive retail technologies, we are focused on developing new ways to do business,” said Fung. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Vietnam targets $40 bn in textile-garment exports in 2019

Apparel/Garments | On 22nd Jan 2019

Vietnam targets $40 bn in textile-garment exports in 2019

The Vietnam Textile and Apparel Association (VITAS) has set a target...

Myanmar RMG units exporting to EU rose by 180 in 5 yrs

Apparel/Garments | On 22nd Jan 2019

Myanmar RMG units exporting to EU rose by 180 in 5 yrs

The number of readymade garment (RMG) factories in Myanmar that...

Courtesy: Microsoft

Textiles | On 22nd Jan 2019

Microsoft India launches e-com site for handloom weavers

Microsoft India recently launched a new e-commerce platform,...

Interviews View All

Rahuul Jashnani, Jashn

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Jim Desai, Blaiva Fabricaa

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Top executives, Textile industry, India

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Oliver Schmitz,

Oliver Schmitz

Germany-based Gmöhling is a leading manufacturer of aluminium containers...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Mark Paterson, Technical Absorbents Ltd

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


January 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search