Alibaba Group Holding co-founder, Jack Ma, has entered the food and beverage industry with a new venture focusing on pre-packaged food, according to a report in the South China Morning Post. The initiative is seen as a strategic move, possibly aligning with Ma’s post-retirement emphasis on the agriculture sector. The enterprise, named “Hangzhou Ma’s Kitchen Food,” has been officially registered in Hangzhou, Jack Ma’s hometown. The company aims to offer a range of pre-packaged foods, ready meals, and edible agricultural products, tapping into the growing demand for packaged foods and evolving lifestyle preferences post-pandemic. This development follows Jack Ma’s resignation as the chairman of Alibaba in 2019. Market research suggests potential growth in China’s domestic ready-meals industry over the next three years.
