(Yicai Global) Oct. 24 -- Chinese e-commerce mammoth Alibaba Group Holding will provide new retail technology services to China Pet Foods, the main pet product supplier in the country, and promote the latter's brand on its e-commerce platform.
The company signed a framework agreement yesterday with Alibaba (China), an Alibaba Group unit that focuses on company management and computer system services, said the announcement issued the same day by China Pet Foods, which is headquartered in Yantai in eastern China's Shandong province.
'New retail' is the use of internet technologies to promote a brand's offline business and asset growth. It includes transforming and digitizing a brand's stores, logistics facilities, manufacturing, workforce, partners and other key areas.
The e-commerce platform of Hangzhou-based Alibaba and its offline retail platforms will help China Pet Foods sell its products to mainstream internet users by bringing Alibaba's varied resources to bear. The aim is overall revenue of CNY1.75 billion (USD2.6 billion) from these platforms from next year to 2021.
Editor: Ben Armour