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Alibaba to sell intime department stores for $1 billion amid restructuring

Business Standard LogoBusiness Standard8h ago

Alibaba to sell intime department stores for $1 billion amid restructuring - Business Standard

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The sale is part of the tech giant's restructuring efforts, with Intime facing challenges due to a significant decline in Chinese consumer spending post-Covid-19.

The deal comes as Alibaba looks to shift focus from its dominance in China's retail sector to its core e-commerce and cloud operations.


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Article Details

Category: BusinessFinance

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-17 @ 11:25:36 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 210 words

Reading Time: 2 minutes read

Sentences: 9 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 24492925

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About Business Standard

Business Standard Logo

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 295 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

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The story "Alibaba to sell intime department stores for $1 billion amid restructuring" was covered 8 hours ago by Business Standard, a news publisher based in India.

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Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news.

The outlet is headquartered in India and publishes an average of 295 news stories per day.

It's most recent story was published 2 hours ago.

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  • News ID: #24492925
  • URL: https://beamstart.com/news/alibaba-to-sell-intime-department-17344157704861

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