1. News
February 12, 2018

Alibaba acquires stake in China’s furniture chain Easyhome

China’s e-commerce company Alibaba has further expanded its retail presence by acquiring a 15% stake in Beijing’s home-improvement supplies and furniture chain Easyhome Furnishing (Easyhome) with an $867m investment.

China’s e-commerce company Alibaba has further expanded its retail presence by acquiring a 15% stake in Beijing’s home-improvement supplies and furniture chain Easyhome Furnishing (Easyhome) with a $867m investment.

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While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
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By investing in Easyhome, Alibaba intends to expand its new business model that focuses on integrating brick-and-mortar and online shopping segments to create a seamless experience for consumers.

An Alibaba official said: “The investment will combine the strengths of the world’s largest e-commerce platform and rich offline sources of Easyhome.”

“The addition of Disney content greatly enriches the library of quality international content on Alibaba’s media and entertainment ecosystem.”

With more than 223 stores in 29 provinces, autonomous regions and municipalities, Easyhome is said to be the second-largest home-improvement supplies and furniture chain in China.

The Beijing-based company also offers building materials and provides home design and refurbishment services.

Alibaba added that the new partnership will provide both online and offline customers with a comprehensive home-improvement solution.

In another development, the Chinese e-commerce giant is reported to have expanded its presence in the entertainment segment by signing an agreement with The Walt Disney through its Youku platform.

Youku offers video streaming services and is wholly owned the Alibaba Digitial Media and Entertainment Group.

Youku president Yang Weidong said: “The addition of Disney content greatly enriches the library of quality international content on Alibaba’s media and entertainment ecosystem.

“We look forward to further cooperation with global entertainment companies, which will help increase our penetration in the family entertainment segment and strengthen Youku’s position as a leading multi-screen entertainment and media platform in China.”

Free Whitepaper
img

What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
Enter your details here to receive your free Whitepaper.