Alibaba’s Freshippo turns its first annual profit, sets sights on 100 new stores
1 Articles
1 Articles
Alibaba’s Freshippo turns its first annual profit, sets sights on 100 new stores
Freshippo, the Alibaba-backed grocery chain better known in China as Hema, has clawed its way to profitability—its first full-year profit since launch. The milestone, marked at the close of its fiscal year ending March 2025, comes after a bruising period of leadership turnover, store closures, and shifting strategies. The comeback is largely credited to Yan Xiaolei, who stepped into the CEO role in March 2024. Known internally by her alias, Bai …
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