Alibaba's Freshippo Adding Three New Membership Stores Next Month

2022-01-01

Freshippo, the grocery retail chain of Chinese e-commerce giant Alibaba Group Holding Ltd, is adding three new membership stores next month, taking the total number of such stores to seven. The three stores will be set up in Shanghai, as well as Suzhou and Nanjing in neighboring Jiangsu province. Over 40 percent of products in the membership-only X store are the company's exclusive products, including those from Hema MAX, a private label of Freshippo that is loosely equivalent to Costco's Kirkland Signature and Member's Mark of Sam's Club.$Alibaba(BABA)$ $Alibaba(09988)$

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