Office Depot and Alibaba Group Holdings Ltd. launched a co-branded e-commerce platform to enhance access for small and medium businesses in the U.S. The partnership grants Alibaba entry to Office Depot’s 10 million customers and 1,800 sales agents, while providing Office Depot clients with access to Alibaba’s network of over 150,000 suppliers.
The collaboration aims to reduce delivery times and enable U.S. SMEs to expand sales internationally through Alibaba.com. This move comes as Office Depot seeks to diversify beyond its traditional office supplies business amid competition from Amazon.com Inc.
Office Depot’s stock rose 10% to $3.90 in premarket trading, while Alibaba’s shares increased 1.3% to $186.35.
