Alibaba Said to Weigh Sale of Mall Chain in Latest Overhaul Step
- It may signal a rethink of a years-long “new retail” ambition
- Alibaba is going through an overhaul as growth sputters
Source: CFOTO/Future Publishing/Getty Images
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Alibaba Group Holding Ltd. is considering selling its InTime department store arm, suggesting the Chinese internet company is rethinking a years-old ambition of dominating physical and online retail as it undergoes a broad restructuring.
Alibaba has reached out to several firms to tap their interest in acquiring the nationwide chain of more than 100 stores and malls, people familiar with the matter said. It initiated discussions around the time Joseph Tsai replaced Daniel Zhang at the helm of the e-commerce company in 2023, the people said, asking not to be identified discussing private deal considerations. One potential buyer held talks as recently as last month, one of the people said.