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

share-iconPublished: Saturday, January 04 share-iconUpdated: Saturday, January 04 comment-icon11 months ago
News sources:
SCMP
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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Alibaba E-commerce Retail Sun art Intime Divestment Business strategy Market
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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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