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Alibaba Plans To Acquire Department Store Chain Intime Retail Group

January 11, 2017: 12:00 AM EST
Chinese online retailer Alibaba Group Holding Ltd. is leading a group of investors seeking to acquire department store chain Intime Retail Group Co. for as much as $2.6 billion. Through the proposed partnership with traditional retailers, Alibaba founder Jack Ma seeks to create a new business model for the online and offline retail markets. Alibaba believes that its “superior computing power,” experience selling billions of dollars of goods online, as well as its strong relationships with government and leading brands will enable it to succeed.
"Jack Ma Bets $2.6 Billion He Can Revamp China Retail Sector", Bloomberg Technology, January 11, 2017, © BLOOMBERG L.P.
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