RT-Mart

In 1996, the Taiwanese conglomerate Ruentex Group, led by Samuel Yin, established RT-Mart, a hypermarket chain that would soon become a major force in retail. The company expanded into mainland China, opening its first Shanghai store in 1998. A pivotal move came in 2000 when RT-Mart joined forces with the French retailer Auchan, creating a joint venture named Sun Art Retail Group. This strategic alliance allowed both brands to operate and expand together across China. Sun Art Retail Group's growth was significant, and by 2010, its sales revenue in China had surpassed major global competitors like Carrefour and Walmart. The company's success led to a major milestone in 2011 with its listing on the Hong Kong Stock Exchange, which valued it as China's leading retailer. In a significant shift, e-commerce giant Alibaba took notice. In 2017, Alibaba invested approximately $2.88 billion for a substantial stake in Sun Art Retail. By October 2020, Alibaba increased its investment, becoming the controlling shareholder. This acquisition was part of Alibaba's "New Retail" strategy, aiming to merge online and offline shopping experiences. However, the integration proved challenging, and despite efforts to digitize, Sun Art's performance declined. This led to another chapter in RT-Mart's story. In early 2025, Alibaba announced the sale of its entire stake in Sun Art Retail to the private equity firm DCP Capital. The finalization of this deal in February 2025 marked a new beginning for RT-Mart, placing the hypermarket chain under fresh ownership to navigate the evolving retail landscape. In Taiwan, the RT-Mart stores were acquired by the local supermarket chain PX Mart in a separate deal conditionally approved in mid-2022.