Giant Chinese e-commerce platform Alibaba intends to acquire its first-logistics property in France soon, CEO Jack Ma has said. He will soon visit the country to sign an accord on this as well as for payment solutions and e-commerce.
Speaking on the sidelines of French President Emmanuel Macron's official visit to the People's Republic this week, Ma said: "We are considering opening a logistics centre in France and are currently looking for a site and partners... I will be going to France very soon to sign a memorandum of understanding on an Alibaba partnership, including logistics, payment solutions and e-commerce."
The platform will enable Alibaba to expand the sale of domestic products in the nation. "Last year, over 1,700 French brands joined Alibaba and their average growth was 53%, that's great," Ma added.
The giant Chinese firm, which listed on the US Nasdaq market in 2015, announced last September that it had taken control of logistics unit Cainiao, and pledged to spend CNY100bn (€12.8bn) over five years to build out a global logistics network. Alibaba co-founded Cainiao in 2013, with partners including department store owner Intime Group, conglomerate Fosun and a handful of logistics firms. Cainiao oversees roughly 57m deliveries a day.
In China Alibaba has annual revenues of €23bn and over 550,000 active monthly users. The French commitment is the first concrete sign of Alibaba's distribution intentions in Europe.