Jack Ma is reportedly going into the ready meal business. The company will be wholly owned by his investment vehicle, Hangzhou Dajingtou No 22 Arts and Culture, which is… a bit of a mouthful. Oh come on, it’s Monday.

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Jack Ma is moving into the food business

Alibaba’s founder is planning a new venture. Jack Ma has incorporated a company called Hangzhou Ma's Kitchen Food which will sell pre-packaged food, according to local reports. It’s wholly owned by Ma's investment vehicle, Hangzhou Dajingtou No 22 Arts and Culture.

Ma has kept a low profile for two years after he angered Beijing by making a speech that was critical of China’s financial-regulatory system. During that time, he’s been travelling the world studying agrotech. He’s visited Spain, the Netherlands, and Japan. In Thailand, he met with the chairman of Charoen Pokphand Group, a major animal feed producer.

The ready meals industry has been booming in China, fueled by post-pandemic lifestyle changes. The sector is expected to see sales of about 510 billion yuan ($70 billion) this year, with the potential to double in the next three years, according iiMedia Research.

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