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Alibaba opens 1st physical store in Europe

Chinese e-commerce giant Alibaba Group Holding Ltd. has launched its first European brick-and-mortar store in Madrid, under its AliExpress brand, Forbes reported Aug. 26.

The 740-square-foot shop is divided into five main shopping areas and houses around 1,000 products across 60 brands, according to the report.

Customers can browse and try on products at the store, which functions as a showroom, but they have to make the final purchase through the AliExpress online platform, Forbes said.