Alibaba builds its first mall in Hangzhou

Alibaba builds its first mall in Hangzhou

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Alibaba is reportedly building its own mall as it seeks to enrich the real-world shopping experience with technology and convenience. The five-story shopping center, which the company is calling "More Mall," is located at Alibaba's headquarters in the eastern Chinese city of Hangzhou. The mall was built on a 40,000-square-meter plot of land and is scheduled to open in April. Currently, construction crews are finishing up work on the building's interior, according to Caixin. This year marked the start of Alibaba's "new retail" era – a phrase the firm has seeded in its announcements. In essence it is a strategy to blend online, offline, logistics and data units across a single value chain, Alibaba founder Jack Ma said in February. Under the initiative, Alibaba is moving fast into offline spaces to help remake traditional retailing, including launching unmanned convenience store and bringing big data technology to 1 million mom-and-pop stores. Now, it's building its first shopping center.