After eyeing both Boxed and Overstock.com earlier this month as a means to expand into e-commerce, Kroger is again making headlines outside of brick and mortar. The New York Post reported talks are in the works with Amazon competitor Alibaba for a possible partnership with the retailer in the future.
Kroger officials met with Alibaba executives in China last month, according to The NY Post, and a Chinese government press release said last week that “Alibaba has teamed up with Kroger…to speed up the integration of online and offline sales.”
With Kroger standing amongst the top supermarket chains in the U.S. and Alibaba being one of Amazon’s largest oppositions on a global scale, the news seems to have given the retailer’s stock a lift as of yesterday morning.
Kroger shares jumped 5.29% to $31.04 in early trading Thursday, though the details of the partnership discussions are still unclear.
Alibaba, too, has made big moves that have been compared to squaring off with Amazon. The company has put strategies into play to establish its own presence in brick and mortar, and recently showed interest in grocery investments.
Will talk turn to fact soon as Kroger inches closer to expanding into the online world? Deli Market News will keep you in the loop as the story unfolds.