RT-Mart and Ali’s new retail integration deepen again
RT-Mart and Shanghai Yunxiang entered into a cloud-like meat and aquatic product supply agreement for a period from the date of signing of the cloud-like meat and aquatic product supply agreement to December 31, 2018, according to which RT-Mart China purchased from Shanghai Yunxiang. Meat and aquatic products; and cloud-like fruit supply agreement, the period from the date of signing of the cloud-like fruit supply agreement to December 31, 2018, according to which, RT-Mart China purchased fruit from Shanghai Yunxiang. The proposed annual caps are 80 million yuan and 100 million yuan respectively.
In addition, RT-Mart China and Hangzhou Yuanniu (an indirect wholly-owned subsidiary of Taobao China) entered into the source cattle supply agreement, the period from the date of signing of the source beef supply agreement to December 31, 2018, according to which, RT-Mart China to Hangzhou Source cattle purchase groceries; and source cattle agricultural product supply agreement, the period from the date of signing the source of cattle supply agreement to December 31, 2018, according to which, RT-Mart China purchased agricultural products from Hangzhou source cattle. The proposed annual caps are 5 million yuan and 5 million yuan respectively.
It is understood that Hangzhou Xinxuan is an indirect wholly-owned subsidiary of Alibaba. It is principally engaged in the sales of home decoration, personal care products, travel and accessories, electronic products, maternal and child care products and other "Taobao Heart Selection" brand home products business. Shanghai Yunxiang is indirectly controlling more than 30% of its shares by Alibaba. It is mainly engaged in the perishable food industry worldwide. It is now operating a supply chain management data platform to promote the development of new retail catering business and achieve omni-channel capabilities in China. . Hangzhou Yuanniu is an indirect wholly-owned subsidiary of Alibaba. Its main business is the operation of “Rural Taobao”, which is the urban-rural business linkage plan launched by Alibaba.
The company’s cooperation under the Supply Agreement will enable the Group to further diversify its development and optimize the product categories offered by the Group’s Tmall brand retail outlets.
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