GLP said in a statement that the agreement marks the partnership between the two companies and is expected to improve the nationwide logistics facility network for Taobao Mall's online retailing business.
As per the agreement 55,000-square-metre facility in GLP Park Hongqiao (West) in Shanghai and a pre-leased 20,000 square metres in GLP Park Zhencheng (Xintang) which will be completed and delivered to Taobao Mall by the end of October 2011.
Taobao Mall logistics operation vice-president Jacky Wang said: "We believe that this cooperation will enhance supply-chain management efficiency by enriching customer experience, which is vital for the success in the e-commerce industry."
Global Logistic Properties also added in statement that "The two companies will also cooperate in meeting Taobao Mall's growing domestic consumption needs and improving operational efficiency."
Launched in 2008, Taobao Mall is considered to be one of the leading businesses to consumer (B2C) online marketplaces in China.
It currently carries 70,000 major multinational and Chinese brands, including Gap, UNIQLO, adidas, Levi's, Bestseller Fashion Group, Lenovo and Li Ning.
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