Tag: vinmart

Alibaba invests in VinMart operator The CrownX
Ecommerce, Investments, Retail

Alibaba invests in VinMart operator The CrownX

A consortium led by Chinese e-commerce giant Alibaba will invest $400 million in the subsidiary of conglomerate Masan Group that operates retail chain VinMart. This is another Investment by the Chinese Firm in Vietnam. The consortium, including Baring Private Equity Asia, one of the largest private equity firms in Asia, has signed an agreement to acquire a 5.5 percent stake in The CrownX, a deal that values the company at $6.9 billion. Masan will own an 80.2 percent stake in the company after the deal. With Alibaba on board, The CrownX will partner with its Southeast Asian ecommerce company Lazada to accelerate the offline to online market in Vietnam. VinCommerce (A subsidiary of The CrownX that operates the VinMart supermarket and VinMart+ convenience store chains) will be th...