Ling Shou Tong

Alibaba to lose US$1.3 billion on Intime sale in retreat from offline retail

by
Alibaba to lose US.3 billion on Intime sale in retreat from offline retail

Alibaba Group Holding is taking a 9.3 billion yuan (US$1.3 billion) loss in its sale of Intime, one of China’s leading department store operators, as the e-commerce giant walks away from offline retailing to focus on its core businesses. The company is selling its entire stake in the retail chain, in which it first invested … Read more

Alibaba connects Taobao and 1688 to tap new users as fierce e-commerce competition ratchets higher

by
Alibaba connects Taobao and 1688 to tap new users as fierce e-commerce competition ratchets higher

Alibaba Group Holding is integrating the services of its online wholesale marketplace 1688 with its flagship consumer shopping platform Taobao, as the e-commerce giant continues to consolidate assets amid internal restructuring and rising competition. Taobao has recently featured three online stores under the 1688 name as it pushes to win over new users, according to … Read more