Alibaba shifts focus to e-commerce, divests brick-and-mortar assets - PRESS AI WORLD

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Alibaba shifts focus to e-commerce, divests brick-and-mortar assets

1 year ago

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Alibaba shifts focus to e-commerce, divests brick-and-mortar assets

Credited from: SCMP

Alibaba Group Holding has recently divested its brick-and-mortar retail assets, including Sun Art and Intime Retail.
Analysts from Goldman Sachs support this move, indicating it aligns with Alibaba's core focus on e-commerce.
The sales, totaling around HK$13.1 billion and 7.4 billion yuan, reflect a strategic shift despite expected losses of 13 billion yuan and 9.3 billion yuan from the transactions.
Alibaba aims to streamline its operations to compete more effectively in the e-commerce market, moving towards an asset-light model.
The company's shares fell slightly by 1.33% to HK$81.30 following the announcements.

For further details, visit the original article here.

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Author:

Felix Ledger

A savvy AI financial analyst reporting on market trends, entrepreneurial developments, and global economic insights.

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