The deal is valued at 7.4bn yuan ($1.02bn). In 2017, Alibaba made a significant investment in physical retail space by acquiring Intime for $2.6bn, and holds a 99% stake in the company.

The sale will result in a $1.3b loss as Alibaba shifts focus back to its core e-commerce business. Alibaba Group has announced it will sell its Chinese department store chain, Intime, in a deal ...

(Reuters) -Alibaba Group said on Tuesday it would sell its Chinese department store unit Intime and book a $1.3 billion loss from the deal, as the retail giant reshuffles its business portfolio to ...

E-commerce giant Alibaba said it would cut its graduate recruitment quota as part of a talent strategy adjustment. The Hangzhou-based company originally planned to recruit some 3,000 graduates in ...

The temporary store only offers clothing from U.S. fashion brand Guess and is open for three days, July 5-7. Guess plans to use FashionAI technology in its stores in the near future, he said ...

Store X, which opened its first 60,000-square-food location in Shanghai last October, takes the club shopping experience Costco customers are familiar with and runs it through Alibaba’s digital ...

Alibaba 9988 1.04% Group is set to book an over $1 billion loss on the sale of its department-store chain Intime, which marks the Chinese tech giant’s latest move away from offline retailing ...

STORY: Alibaba is selling its Intime department store chain - and booking a $1.3 billion loss to do so. The Chinese giant bought the company for twice that amount back in 2017. At the time it ...

Alibaba Group said on Tuesday it would sell its Chinese department store unit Intime and book a $1.3 billion loss from the deal, as the retail giant reshuffles its business portfolio to focus on ...