Alibaba announces consolidated US e-commerce deliveries
Cainiao, the logistics of arm of Chinese multinational retail giant Alibaba, has announced a consolidated ...
Alibaba has strengthened its hold on the courier market by investing an extra $966m in YTO Express, bringing its share in the company to 22.5% from 10.5%. The e-commerce giant will work with YTO on express deliveries, air cargo, building a global logistics network and digital technology.
The move looks to be part of a wider industry trend, following last month’s news, that JD.com has acquired a controlling interest in express transport company Kuayue-Express Group for Rmb3bn ($439m), in the South China Morning Post.