Alibaba (BABA) intends to gradually close the last of its Costco-like members-only stores, underscoring its retreat from a ...

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

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

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

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

On the heels of Costco's success, in 2020, Alibaba Group Holding Ltd. launched its line of Hema X stores to mimic the Costco ...

Alibaba's Hema will close its final X membership store in Shanghai on August 31, ending its foray into the warehouse club model launched in 2020. The move reflects a companywide pivot toward core ...

Taobao will launch a unified membership program that bundles services and perks from Ele.me, Fliggy, and Hema, expanding 88VIP into a comprehensive lifestyle offering. The move reflects Alibaba’s ...