Tencent Partners Liqun Group to Delve Deeper Into New Retail
Tang Shihua
DATE:  Mar 12 2018
/ SOURCE:  Yicai
Tencent Partners Liqun Group to Delve Deeper Into New Retail Tencent Partners Liqun Group to Delve Deeper Into New Retail

(Yicai Global) March 12 -- Tencent Holdings Ltd., China's largest tech firm by market cap, has furthered its push into New Retail by striking up yet another partnership with an offline merchant.

Tencent Cloud Computing Beijing Co. and internet trading operator Shenzhen Morning Star E-Commerce Co. have teamed up with Liqun Group Co., a regional retail force in China's eastern province of Shandong, the latter said in a statement. Tencent will provide a reliable online platform to incorporate smart retail into the Liqun's sales channels.

The trio will seek smart solutions in e-commerce and online-to-offline services, smart shopping guides, warehousing, enterprise resource planning and other areas, the statement added. Liqun hopes the deal will bolster its smart supply chains and data acquisition while optimizing its retail business system.

New Retail, a term coined by Jack Ma in 2016 to describe "the integration of online, offline, logistics and data across a single value chain," is all the rage in China's rapidly expanding consumer market. Some of the nation's top tech and e-commerce firms, including Ma's Alibaba Group Holdings Ltd. and JD.Com Inc., are battling it out to secure offline resources that complement their existing assets.

Tencent has splurged in the field and taken stakes in supermarket chains Yonghui Superstores Co. and Carrefour SA's China unit, as well as BBK Electronics Corp. and menswear brand Heilan Home.

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Keywords:   TENCENT,Liqun Group,New Retail