Alibaba has inked an agreement with Spanish retail giant El Corte Inglés to collaborate on projects that cut across multiple areas,including cloud computing,online and offline retail,logistics,and digital payments.
The two retail players signed a letter of intent that would see their business units and subsidiaries work on the various initiatives,both companies said in a joint statement Friday.
On retail,for instance,El Corte Inglés would be able to set up a flagship store and tap Alibaba's online marketplaces such as Tmall and AliExpress to offer its products to consumers in China.Operational since 1940,the Spanish company runs the largest department store chain in Europe.
In turn,AliExpress would explore the possibility of setting up physical points at El Corte Inglés shopping centres"to recreate unique and engaging shopping experiences"for Spanish shoppers.The Chinese retail vendor had established a popup store in El Corte Inglés'Madrid outlet during its Singles Day shopping festival on November 11.
Both companies also would assess potential for collaboration in terms of delivery and supply chains,with Alibaba possibly tapping El Corte Inglés'logistics expertise and resources in Spain as well as using its distribution centres as collection points for online purchases made on AliExpress.