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Digital currency financial management return strategy ✌️【Flexible Hours】✌️₹500 is all you need to start your profitable journey. Invest today for high monthly returns!Alibaba Group Holding is selling its stake in Chinese department store chain Intime for 7.4 billion yuan ($1 billion) as the company returns it focus to e-commerce, even though the sale will lead to losses of 9.3 billion yuan.The Hangzhou-based behemoth said a consortium of buyers including Chinese billionaireLi Rucheng’s fashion conglomerate Youngor Group will acquire its 99% stake in Intime, as well as 1% owned by an unidentified minority shareholder, according to a Tuesday filing with the Hong Kong Stock Exchange.

Digital currency financial management return strategy ✌️【Flexible Hours】✌️Earn fast with just ₹500. Enjoy consistent returns and grow your money month by month!With Yintai Group’s billionaire founderShen Guojun, Alibaba took the department store chain private in 2017 in a $2.6 billion deal.The e-commerce giant cofounded by billionaireJack Maharbored dreams of using internet technologies to upgrade brick-and-mortar retail.

For example, itonce wanted togenerate service fees by selling customer analysis algorithms to offline retailers, and take a cut from their revenues if sales improved.

It bought brick-and-mortar stores to experiment and diversify the company’s revenue streams.That plan never lived up to expectations, and Alibaba has said it will refocus on its core e-commerce business.

“Alibaba may continue to sell more assets and investors could already be expecting this,” Wang Xiaoyan, a Shanghai-based analyst at research firm 86Research, says in messages sent over WeChat.

“Management’s goal is now focusing on the pure internet-based business, and turning Alibaba back to an internet company.”Wang says Alibaba may also sell RT-Mart, the hypermarket chain it acquired a controlling stake of for about $3.6 billion in 2020.

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