Alibaba Group announced that its board of directors has authorized to upsize its share repurchase program from US$6 billion to US$10 billion on 27 December 2020. This Share Repurchase Program will be effective for a two-year period through the end of 2022.
Alibaba considers Hema "The Pathfinder of Alibaba’s New Retail". Hema supermarkets deliver new retail experience with its new business model integrating online and offline and combining supermarket with restaurants.
As of July 31, 2018, there were 64 Hema stores covering 14 cities (franchise stores included):
- 18 Hema stores in Shanghai
- 12 in Beijing
- 6 in Chengdu
- 4 in Shenzhen
- 4 in Hangzhou
- 3 in Guangzhou
- 3 in Xi'an
- 3 in Suzhou
- 2 in Fuzhou
- 2 in Wuhan
- 2 in Nanjing
- 2 in Ningbo
- 2 in Guiyang
- 1 in Kunshan. **As of July 31, 2018.
The daily average sales per mature store are about 800K+ yuan. And, the annualized average sales per sqm of mature stores is 50K+ yuan. Online sales account for 60%.
Hema operates with several different models: Hema Fresh, Hema Mini, Hema Vegetable Market, Hema Station.
CEO of Hema: HOU Yi
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