Alibaba to Shut Costco-Like China Stores After Rivalry Heats Up

Alibaba’s Freshippo to Shut Last X Member Store in Strategic Revamp

Alibaba’s Freshippo to Shut Last X Member Store in Strategic Revamp - Chinese warehouse stores have struggled to break into the membership-based, bulk-buying format

Alibaba to Shut Costco-Like China Stores After Rivalry Heats Up

Alibaba Group Holding Ltd. plans to gradually wind down the last of its Costco-like members-only stores, underscoring its retreat from a hyper-competitive Chinese retail arena.

Source: Alibaba's supermarket chain Hema plans to gradually wind down the last of its Costco-like members-only stores in China in a bid to improve profitability

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Alibaba to shut premium Hema X outlets after rivalry heats up

Alibaba Group Holding plans to gradually wind down the last of its Costco-like members-only stores, underscoring its retreat from a hyper-competitive Chinese retail arena.

Freshippo by Alibaba to Shut Its Final Members-Only Store

Freshippo’s grocery division of Alibaba Group Holding is set to close its last membership-only store. The final member-exclusive supermarket in Shanghai will cease operations on August 31, according to employees at the shopping mall housing the store. Earlier, three membership stores in Beijing, Suzhou, and Nanjing had already shut down at the end of last month. The company launched its first members-only supermarket in 2020, marking a first in …

Freshippo's Last Membership Store to Close by End of Aug - Why Is It Exiting Membership Stores Business? - YT FINANCE

The post Freshippo’s Last Membership Store to Close by End of Aug – Why Is It Exiting Membership Stores Business? appeared first on YT FINANCE.