According to Alibaba, through this cooperation, the two parties will be able to integrate Feng's professional capabilities in global brand recruitment management, marketing and offline retailing with Alibaba's technology, consumer insights and new retail ecological advantages. Ali will mainly provide new retail channels for brands including Tmall and Intime, and Feng's Retail will provide more offline channel support. This will help these international brands to create more profits in online and offline omnichannels in the future, and achieve sustained and large-scale growth. International brands will gain more market insights based on big data, marketing selection suggestions, and brand testing and sales opportunities when developing new markets, while reducing the cost and risk of entering China and shortening the time to enter the Chinese market.
According to the contents of strategic cooperation, the two parties will establish a closely communicating brand introduction team, and cooperate to provide international brands with agents, marketing and online and offline omnichannel sales services. The cooperation between the two parties is currently focused on the Chinese market, and may jointly enter other regions with huge consumption potential in the future.
At the signing ceremony, Zhang Yong, CEO of Alibaba Group, said: "Alibaba is very honored to start a comprehensive strategic cooperation with Feng's Retail Group during the historic import expo. I hope Ali's new retail basic capabilities, data, technical capabilities and Feng ’s vast brand and supply chain resource advantages can be deeply integrated, helping more global brands enter the Chinese market and succeed, opening a new chapter in new retail. "
Feng Yongyi, Group Managing Director of Feng's Retail Group Co., Ltd. said: "The retail industry is undergoing an exponential change, and we are also changing. Through this exciting cooperation with Alibaba, we can help our customers better understand Chinese retail. Industry, reaching China ’s 1.4 billion consumers more smoothly. With the changing consumer behavior and innovative breakthroughs in retail technology, we hope to continue to innovate the way we do business in the evolving retail landscape. "
It is understood that the Feng Group's retail business is held by its private Feng Group Retail Group Co., Ltd. The group's retail business spans the Greater China region, the United Kingdom, France, South Korea, Singapore, Malaysia, Thailand and the Philippines, and operates more than 3,000 stores. The group's subsidiaries include independent retail stores operated by the listed company Leah Retail Co., Ltd. (Hong Kong Stock Exchange Stock Code: 00831) and Trinity Holdings Limited (Hong Kong Stock Exchange Stock Code: 00891), and privately held Brand Lifestyle Holdings Limited , Fung Kids (Holdings) Limited, Toys "R" Us (Asia) Limited, Suhyang Networks Company Limited, and UCCAL Fashion Group.