Alibaba makes an investment in department store operator Intime Retail One of China’s largest Internet groups has made its first investment in the traditional brick-and-mortar space. Alibaba has backed Intime Retail, a department store operator based in Hong Kong. Intime Retail operates 36 department stores throughout mainland China, each carrying luxury brands like Gucci. Alibaba has taken up a 25% stake in Intime Retail with a $692 million investment. The move is expected to have a significant impact on Alibaba’s initial public offering, which is expected to be launched later…
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