Fresippo’s expansion comes three months after parent company Alibaba unveiled its restructuring plans.

Alibaba Group’s grocery retail subsidiary, Fresippo, has opened 12 new stores in mainland China. Stores are strategically located in major cities such as Beijing, Shanghai and Guangzhou and aim to meet the growing demand for quality products and superior service in the highly competitive grocery market.

According to officials press release On June 30, seven of the newly opened stores sported the new Fresippo logo, offering a wider range of products, expanded delivery areas, a spacious shopping environment and enhanced customer service.

Headquartered in Shanghai, the grocery company operates more than 300 stores in 27 cities in mainland China. A unique combination of superior e-commerce, logistics capabilities and a traditional shopping experience, Fresippo offers the convenience of online ordering with home delivery and the option to visit a brick-and-mortar store renowned for its high-quality fresh produce such as lobster. offer to customers. .

Through this expansion, the company aims to meet the diverse needs of customers living in commercial and residential areas.

Fresippo Ranks Top 10 Chain Stores in China for the First Time

In addition to the newly opened stores, the company has introduced five new Fresippo outlets in Shanghai. These outlets focus on offering quality products at attractive prices, making them an attractive choice for a wider range of consumers. With these latest additions, the grocery company now operates 68 stores in his 14 cities in mainland China, solidifying its retail presence.

Fresippo’s expansion comes amid a strong recovery in China’s consumer market, driven by increased demand from younger customers, especially in emerging Tier 1 cities.

According to a recent report by the China Chain Stores and Franchise Association, Fresippo ranked in the top 10 of China’s Top 100 Chain Stores in 2022. The Alibaba-owned company ranked eighth among the top 100 chain stores for the first time since its inception and sixth among the top 100 supermarket chains in mainland China.

Fresippo plans to become a listed company

Fresippo’s expansion comes three months after its parent company Alibaba unveiled its restructuring plans. As competition among e-commerce companies in China intensifies, the Chinese e-commerce giant splits itself into six business units to restore growth.

These newly formed units have the flexibility to raise external capital and eventually go public. However, it’s worth noting that while Freshippo operates as an independent company under the Alibaba umbrella, it’s not part of his newly formed six business groups.

Alibaba last month approved an initial public offering (IPO) in which Fresippo would become a public company. However, no specific schedule for the offering has been revealed.

Meanwhile, Fresippo has actively explored global sourcing opportunities and forged strategic partnerships to strengthen its supply chain.

in recent times travel to australia Earlier this month, the company explored potential partnerships with more than 40 Australian brands. The visit was part of Fresippo’s strategy to accelerate import business development towards 2023.

During the trip, the Fresippo team targeted Victoria and New South Wales, establishing new partnerships and exploring collaboration opportunities with Australian brands.

The company’s global supply chain strategy, announced in mid-May, has already led to strategic partnerships with 13 well-known retailers, brands, associations and consulting firms around the world.


business news, IPO news, news

Chimamanda U. Martha

Chimamanda is a cryptocurrency enthusiast and an experienced writer focusing on the dynamic world of cryptocurrencies. She entered the industry in her 2019 and has since deepened her interest in the emerging economy. She combines her passion for blockchain her technology with her love for travel and food to bring her fresh and compelling perspective to her own work.

By Jules

Leave a Reply