Alibaba to control top Chinese hypermarket operator

Alibaba is investing an additional $3.6 billion in Sun Art Retail Group. This move could bolster its omnichannel capabilities, allowing it to fulfill more orders from stores and rack up in-store sales. Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Payments & Commerce industry with the Payments & Commerce Briefing. You can learn more about subscribing here. Alibaba announced plans to acquire a controlling stake in Sun Art Retail Group for approximately $3.6 billion, building on a $2.88 billion investment it made in the store operator in 2017. Alibaba is investing $3.6 million to take a controlling…