Chinese e-commerce giant Alibaba (NYSE:BABA) intends to gradually close the last of its Costco-like members-only stores, ...

Alibaba Group Holding is set to phase out its remaining Costco-style Hema X store, signaling a pullback from China’s ...

Alibaba Group Holding Ltd. plans to gradually wind down the last of its Costco-like members-only stores, underscoring its ...

Alibaba (NYSE:BABA) is getting ready to close its last Hema X outlets by Aug 31, marking a pullback from the members-only model it launched in 2020. Bloomberg News says three stores in Beijing and ...

Alibaba Group's grocery retail arm Hema, also known as Freshippo, has officially exited the membership store business, ...

Alibaba Group is set to close its remaining Costco-like Hema X stores, marking a strategic shift amid intense competition in the Chinese retail market.

Alibaba Group Holding Limited (NYSE: BABA) supermarket chain Freshippo-owned grocery brand Hema Xiansheng broke even last year in China as Covid lockdowns boosted online sales of fresh produce ...

Hema is the chief component of Alibaba’s other category which made up 10% of fiscal 2018 revenues, up from 2% of revenues during fiscal 2017, according to the company’s 2018 earnings release.

Alibaba's own efficient cashier-less Hema stores were tested in China for two years and launched in several Chinese cities, months before Amazon's trial of one AI-empowered store in Seattle.