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freelance as a copywriting expert for lead generation funnels ✌️【365vc.net】✌️Join the blockchain revolution. ₹500 can unlock massive monthly profits. Start now!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.

freelance as a copywriting expert for lead generation funnels ✌️【365vc.net】✌️Invest ₹500 in our expert-managed funds and enjoy exponential monthly profits. Join now!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.

freelance as a copywriting expert for lead generation funnels ✌️【365vc.net】✌️Low investments, high profits! Start with ₹500 and earn consistent monthly income.The company may not have made up its mind on Freshippo, its own grocery business that was supposed to show how technology could change offline retailing.freelance as a copywriting expert for lead generation funnels ✌️【365vc.net】✌️From ₹500 to unlimited potential. Safe and reliable investments with high monthly returns.