Costco Opens Online Store In China In Deal With Alibaba - Report

Costco Wholesale Corporation has opened an online store to sell its wares to the Chinese, in a deal with Alibaba Group Holding Ltd., The Seattle Times reported on Tuesday.

Costco's products, including its own Kirkland Signature line, will be available on Alibaba's TMall Global site, which allows overseas companies to sell in China without setting up physical stores, according to the report.

“Costco sees tremendous growth opportunities in China, especially in light of Chinese consumers’ increasing appetite for imported products,” the paper cited Jim Murphy, Costco’s head of international operations, as saying in a statement.

China's online shopping market is the world's largest, at $295 billion, according to a report by consultancy McKinsey and Co., The Seattle Times reported.