BEIJING, July 21, 2018 (BSS/Xinhua) – Alibaba Group announced on Thursday
that that it has recently completed its strategic investment in Suning
Sports.
As an important carrier in strategic cooperation of Alibaba Group and
Suning Sports, Youku will conduct a deep cooperation with PP Sports under the
flag of Suning Sports on setting up a joint operation platform and
cooperating in various fields such as member brands and services.
This investment in Suning Sports is another move of Alibaba in sports
sector. It also means that Alibaba and Suning will further integrate in the
sports industry based on the synergy of the new retail sector, said Yang
Weidong, president of Youku, and rotating president of Alibaba Digital Media
and Entertainment Group.