Alibaba Announces Expansion Plans

Alibaba (Hangzhou, China) announced some of its business and strategic plans for the upcoming year in a speech to employees.

Of note, the company shared its plans to expand into more “first-tier cities” throughout 2016. The company did not specify how many and where all these new stores would be located, however.

This compares with 2015, when the company’s focus was on expanding throughout the country’s rural markets as well as developing its e-commerce presence. (In the recent address, the company added that it plans to continue promoting these efforts throughout rural China and online throughout the coming year, reports Women’s Wear Daily.)