Jack Ma, Co-Founder of Alibaba Group Holding, has embarked on a fresh venture in the food and beverage sector. As reported by the South China Morning Post, Ma has initiated a new business focused on selling pre-packaged food. This move is seen as a potential indication of his expansion into sectors aligned with his post-retirement emphasis on the agriculture industry. It’s noteworthy that Jack Ma relinquished his role as chairman of Alibaba on his 55th birthday in 2019.
Jack Ma’s pre-packaged food company is named “Hangzhou Ma’s Kitchen Food” when translated into English. As per the National Enterprise Credit Information Publicity System, an official platform for business registry information, the company has been established in Hangzhou, China—the hometown of the business magnate and the headquarters of his empire.
According to the South China Morning Post, the company’s plan includes the sale of pre-packaged foods, ready meals, and edible agricultural products. Jack Ma’s decision to venture into this market is said to align with the growing demand for packaged food and shifts in lifestyle post-pandemic. Market research suggests potential growth in the domestic ready-meals industry in China over the next three years.
