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PR Newswire
01-04-2014, 09:34 AM
Online cum offline shopping seems synergizing well enough for Alibaba to make the move...
Alibaba adds S$870 million deal to shopping cart
HONG KONG — China’s Internet behemoths continued their shopping spree yesterday, with Alibaba Group announcing it would pay HK$5.37 billion (S$873 million) for a stake in a Chinese department store operator.
The investment will give Alibaba a stake of 35 per cent in Intime Retail Group and help China’s biggest e-commerce operator integrate online and offline shopping.
Alibaba and its closest Chinese rival, Tencent Holdings, have carried out a flurry of deals in recent months as each seeks to shore up their market positions and expand into new business lines.
By buying a stake in a brick-and-mortar retailer, Alibaba said it was seeking to leverage its huge base of online shoppers and its technological know-how to increase sales at Intime, which operates 36 department stores and shopping centres across China.
...
http://www.todayonline.com/tech/alibaba-...pping-cart
Alibaba adds S$870 million deal to shopping cart
HONG KONG — China’s Internet behemoths continued their shopping spree yesterday, with Alibaba Group announcing it would pay HK$5.37 billion (S$873 million) for a stake in a Chinese department store operator.
The investment will give Alibaba a stake of 35 per cent in Intime Retail Group and help China’s biggest e-commerce operator integrate online and offline shopping.
Alibaba and its closest Chinese rival, Tencent Holdings, have carried out a flurry of deals in recent months as each seeks to shore up their market positions and expand into new business lines.
By buying a stake in a brick-and-mortar retailer, Alibaba said it was seeking to leverage its huge base of online shoppers and its technological know-how to increase sales at Intime, which operates 36 department stores and shopping centres across China.
...
http://www.todayonline.com/tech/alibaba-...pping-cart
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