Skip to content
Upgrade to Intel
Subscribe and gain unlimited access to exclusive features and content

Alibaba mulls sale of InTime arm

Alibaba Group Holding is reportedly considering the sale of its InTime department store arm as part of its broader restructuring efforts, signaling a shift in its strategy to dominate both physical and online retail. The company has reached out to potential buyers for the chain of more than 100 stores and malls, initiating discussions around the time when Joseph Tsai took over as CEO in 2023. InTime was valued at approximately $4 billion in a 2017 take-private deal led by Alibaba, but its potential sale comes amid challenges such as a weak post-Covid-19 Chinese consumer rebound. This move reflects Alibaba's renewed focus on core businesses like e-commerce and cloud services as it reshuffles its top management and reevaluates its diverse portfolio.

Get more news based on your interests