El Corte Inglés and the Alibaba Group have signed a cooperation agreement to explore business opportunities in numerous areas of interest including smart payments, digital innovation, cloud computing services, and global commerce and retail. The agreement should enable both companies to leverage digital innovation to accelerate their respective omnichannel plans. El Corte Inglés will use Alibaba's cloud computing solutions and their B2C marketplaces to enhance and personalize their digital offering while Alibaba will be able to open physical locations at El Corte Inglés' shopping centers and use El Corte Inglés' distribution centers as collection points for online purchases on AliExpress. Agreements between traditional retailers and technology companies who live and breath digital transformation and innovation are becoming common place as each look to explore the expertise of the other.
As part of the agreement, both companies will also cooperate with each other on logistics, and delivery & supply infrastructure.
El Corte Inglés is Europe's largest shopping center, and the Alibaba Group is one of the world's leading technology companies. Combining the skills and expertise of each should bring incredible value to both companies as they both seek to create better customer experiences for their customers worldwide.
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