ZCZC
BCN-12
SPAIN-CHINA-ECONOMY-RETAIL
Spanish retail giant Corte Ingles in deal with Alibaba
MADRID, Nov 30, 2018 (BSS/AFP) – Spain’s top department store chain El
Corte Ingles on Thursday announced a collaboration with Chinese e-commerce
giant Alibaba.
Under the deal El Corte Ingles (“The English Cut”), currently present only
in Spain and Portugal, will be able to sell its products worldwide through
Alibaba platforms like Tmall and AliExpress.
For its part AliExpress — an e-commerce platform offering smaller-quantity
orders and instant online transactions — will gain “physical spaces” in
Corte Ingles stores to create “new and attractive buying experiences” and
move into the Spanish market.
AliExpress will also be able to pick up products bought online at the
stores.
“We are looking forward to joining forces with them to provide consumers in
China and worldwide with the greatest products and experience,” said
Rodrigo Cipriani Foresio, the Alibaba group’s managing Director for Spain.
The debt-riddled Spanish retailer posted turnover of 15.9 billion euros
($18 billion) last year, with consolidated net profits of 202 million euros,
a 25 percent increase over the previous year.
BSS/AFP/HR/0950