News

Alibaba May Close Last Hema X Stores

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 ...
VnExpress International on MSN2h

Alibaba shuts down Costco-like membership retail chain Hema X

Alibaba Group Holding is set to phase out its remaining Costco-style Hema X store, signaling a pullback from China’s ...
China Daily14h

Hema exits membership store biz

Alibaba Group's grocery retail arm Hema, also known as Freshippo, has officially exited the membership store business, ...
Parade on MSN2h

Major Costco Rival Announces Final Store Closures

Alibaba had been quietly closing Hema X locations over the year, backpedaling an ambitious expansion that launched around ...