Midea and Alibaba tie up in sales
Print Edition
ELECTRIC appliances maker Midea said it aims to more than double its sales on Alibaba’s online retail platform to 11 billion yuan (US$1.77 billion) this year.
Last year, Midea’s sales from Alibaba’s Tmall and Taobao sites reached 5.3 billion yuan, making up half of its overall revenue through e-commerce channels, according to a joint statement yesterday. The two firms will boost ties to better leverage Alibaba’s consumer data.
Midea also expects to extend its ties to Alibaba’s affiliates such as its small finance unit.
Midea intends to develop a smart home furniture management system by taking advantage of Alibaba’s capability in the Internet of Things and cloud computing.
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