Freshippo’s expansion comes three months after its parent company Alibaba revealed restructuring plans.
Freshippo, the grocery retailer of the Alibaba Group, has opened 12 new stores across mainland China. The stores are strategically located in major cities such as Beijing, Shanghai and Guangzhou, aiming to meet the growing demand for quality products and exceptional service in the highly competitive grocery market.
According to the official press release On June 30, seven of the newly launched stores feature the new Freshippo logo offering a wide range of products, an expanded delivery area, spacious shopping environments, and enhanced customer service.
The grocer is headquartered in Shanghai and operates more than 300 stores in 27 cities in mainland China. With its unique blend of e-commerce prowess, logistical capabilities, and traditional shopping experiences, Freshippo offers customers the convenience of online ordering with home delivery and the option to visit their physical stores renowned for their fresh, high-quality produce, including items such as lobster.
Through the recent expansion, the company aims to meet the diverse needs of customers, whether they reside in commercial or residential areas through expansion.
Freshippo was ranked among the top ten stores in China for the first time
In addition to the newly launched stores, the company also introduced five new Freshippo outlets in Shanghai. These outlets focus on offering high quality products at attractive prices, which makes them an attractive option for a wider segment of consumers. With these latest additions, the grocer now operates 68 outlets in 14 cities in mainland China, further cementing its presence in the retail scene.
Freshippo’s expansion comes as China’s consumer market is experiencing a strong recovery fueled by growing demand from young customers, particularly in emerging first-tier cities.
According to a recent report on Chinese chain stores and franchises, Freshippo is ranked among the top 10 stores in China in 2022 among the top 100 chain stores. The Alibaba-owned company ranked eighth among the top 100 supermarket chains for the first time since its launch and sixth among the top 100 stores in mainland China.
Freshippo plans to become a publicly traded company
Freshippo’s expansion comes three months after its parent company Alibaba revealed restructuring plans. The Chinese e-commerce giant has split its company into six business units to revive growth as competition intensifies among e-commerce companies in China.
These newly formed units have the flexibility to raise external capital and eventually go public. However, it should be noted that while Freshippo operates as an independent company under the Alibaba umbrella, it is not part of the newly formed six business groups.
Last month, Alibaba approved an initial public offering (IPO) for Freshippo to become a publicly traded company. However, an exact schedule for the show has not been revealed.
Meanwhile, Freshippo is actively exploring global supply opportunities and establishing strategic partnerships to enhance its supply chain.
at recent days A trip to Australia Earlier this month, the company approached more than 40 Australian brands for potential collaborations. The visit was part of Freshippo’s 2023 Rapid Import Business Development Strategy.
During the trip, the Freshippo team targeted Victoria and New South Wales, aiming to forge new partnerships and explore collaboration opportunities with Australian brands.
The company’s global supply chain strategy, announced in mid-May, has led to strategic partnerships with 13 well-known retailers, brands, associations and consulting firms worldwide.
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