Alibaba to Sell Chinese Department Store Unit for $1.02 Billion
Alibaba Group is selling its Chinese department store unit Intime as part of its efforts to focus on its core e-commerce operation. The company has agreed to sell Intime to a consortium comprising Youngor Fashion and members of the management team for 7.4 billion yuan ($1.02 billion). This move marks the latest step in Alibaba’s … Read more