Costco opens TMall store

It enters nation's market without needing capital for physical stores

Costco Wholesale Corp, known primarily for its US membership-only warehouse clubs, is entering China without a store. It will sell food and household items to Chinese consumers on Tmall, the business-to-consumer portal of Alibaba Group Holding Ltd.

The venture announced on Monday will be Costco's first foray into China. David Strasser, an analyst at Janney Montgomery Scott LLC in Philadelphia, said this will let Costco enter the Chinese market without having to put up capital to build stores in the country.