Alibaba plans to install a logistical center in Bulgaria in order to reinforce its presence in the European market. This is according to information published by the Asian portal Xinhua, after consulting government sources in China, although Alibaba has yet to make an announcement.
Although for the time being the Asian eCommerce giant has made no comment, company representatives are known to have held meetings with the Bulgarian Prime Minister Boyo Borisov to “explore investment opportunities”.
In the communication, the Chinese portal states that with this move Alibaba is seeking to support its operations in Europe, including marketing Bulgarian goods and food products internationally.
This initiative is not the first by the Asian multinational to promote its presence in the European market. In February 2017, Alibaba will open its first office in the Spanish capital, where it also aims to boost sales by Spanish companies in China.
In spite of its expansion plans, the organization is still dogged by information about counterfeit products. Even so, Alibaba obtained retail sales of 482.1 billion dollars, overtaking Walmart, the leading US chain in the market.