Alibaba Group and Hong Kong-based Fung Retailing’s retail arm aim to open up the Chinese market to international lifestyle brands with a new strategic partnership.
The collaboration will focus on mainland China and offer brands merchandising, marketing and omnichannel distribution support.
Combining Alibaba’s digital retail expertise and Fung Retailing’s offline retail channels and portfolio of brands, the two businesses aim to reduce costs, risks and time normally associated with entering the Chinese market.
Brands will be able to take advantage of Alibaba’s new retail channels, including Tmall and Intime, as well gain access to its 600 million users.
The partnership hopes to potentially expand to other regions in the future.