Exchange Database

Costco joins Alibaba's online portal

Costco Wholesale Corp, known primarily for its US membership-only warehouse clubs, is entering the Chinese mainland without a store. It will sell food and household items to Chinese consumers on TMall, the business-to-consumer portal of Alibaba Group Holding Ltd. The venture announced on 13 October 2014 will be Costco's first foray into China.
Outcomes: 
David Strasser, an analyst at Janney Montgomery Scott LLC in Philadelphia, said this will enable Costco to enter the Chinese market without putting up capital to build stores in the country.
Contact Info: 
Costco Wholesale Corp, Alibaba Group Holding Ltd
Source: 

http://usa.chinadaily.com.cn/us/2014-10/15/content_18739194.htm

Government?: 
No
Type of Exchange: 
business
Partners: 
Costco Wholesale Corp
Alibaba Group Holding Ltd
Sponsor(s): 
Costco Wholesale Corp
Alibaba Group Holding Ltd
Participants (Types): 
retailer
Exchange Date: 
Monday, October 13, 2014 to Thursday, October 16, 2014
Continuing: 
No
Location: 
China
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