Alibaba Invests in Haier to Enhance Delivery and Installation Services for Household Appliances

Dec 9, 2013 (Mon): Haier Group and Alibaba Group have formed a strategic partnership aimed at combining the strengths of both companies to create a comprehensive system and standards for the delivery and installation of household appliances and other large-sized goods.

Under the partnership, Alibaba will invest a total of HKD 2.822 billion into Haier and HKD 1.857 billion will go to Haier’s owned Goodaymart, a logistics service provider in China that specializing in home appliances, furniture and home decoration items.

Goodaymart currently has nine shipping bases nationwide, 90 logistics delivery centers and more than 2 million square meters in warehouse space. Its distribution network covers more than 2,800 counties in China and operates more than 17,000 service points.

“The aim of this partnership is not simply to grow the Goodaymart business but ultimately to enhance the experience for all participants in the logistic industry. Haier Group can learn a great deal from Alibaba through this partnership and I’m confident that this collaboration will create concrete benefits for all involved,” said Zhang Ruimin, board chairman and CEO of Haier Group.