Alibaba to sell mall chain for $1 bln as part of latest overhaul
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Alibaba Group announced the sale of its department store chain, Intime, to Youngor Fashion for approximately $1.02 billion. This move is part of Alibaba's ongoing business restructuring efforts.
December 17, 2024 | 4:45 am
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Alibaba is selling its department store chain, Intime, to Youngor Fashion for $1.02 billion. This sale is part of Alibaba's broader strategy to restructure its business operations.
The sale of Intime is a significant move in Alibaba's restructuring strategy, potentially improving its financial position and allowing it to focus on core operations. This could positively impact Alibaba's stock in the short term as investors may view the restructuring favorably.
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