Alibaba to sell Intime Department Store at a loss of US$1.3 billion
The move is part of Alibaba's strategy under Chief Executive Eddie Wu to streamline operations and focus on core growth areas.
E-commerce giant Alibaba sells Intime luxury chain store at huge loss
Hangzhou Yintai Department Store. CFOTO/Future Publishing via Getty Images Alibaba Group Holding Co. is selling its stake in Chinese department store chain Intime Department Store for 7.4 billion yuan ($1 billion) as
Alibaba reportedly to sell its department store chain Intime Retail
Intime Retail was taken private seven years ago in a deal worth $2.5 billion.