About: http://data.cimple.eu/news-article/4495451103b1e040a13599e5ab454555312f41a84f3bf5fe5a1f2764

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About: http://data.cimple.eu/news-article/4495451103b1e040a13599e5ab454555312f41a84f3bf5fe5a1f2764 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	China's e-commerce behemoth Alibaba has bought a controlling $3.6 billion stake in SunArt which runs hundreds of hypermarkets on the mainland for French shopping giant Auchan. The move to take a 72 percent holding in SunArt tightens Alibaba's grip on China's vast e-commerce sector as it looks to soak up the new customers pushed online to buy groceries, fresh food and healthcare products by the coronavirus. It also hands over control of 13 million square metres (140 million square feet) of retail space in scores of cities across the country. SunArt was created by Auchan in 2000 with Ruentex Group and joined in an "alliance" with Alibaba in 2017. That tie-in gave the Chinese firm ownership of around a third of the hypermaket company. Alibaba quickly set about transforming SunArt from a traditional bricks-and-mortar hypermarket to an online groceries hub, matching its wider e-commerce goods business. "Sun Art has made significant progress in the digital transformation," Alibaba said in a statement Monday announcing its $3.6 billion investment. The supermarket chain has since been "leveraging resources and technology from the Alibaba ecosystem." The buyout of SunArt will boost a promise to deliver groceries within 30-60 minutes of being ordered over Alibaba's Tmall platform, the statement added. burs-apj/mtp
schema:headline	Alibaba pays $3.6 bn to take over China hypermarket giant SunArt
schema:mentions	Alibaba Group Ecosystem Sun Microsystems Auchan E-commerce French language Supermarket China Severe acute respiratory syndrome coronavirus 2 Sunart Hypermarket Tmall Digital transformation The Move
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-10-19 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	67 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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