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Youngor Group takes over Intime Department Store: plans to supplement the fashion Industry Chain, while the department store format faces challenges and risks.
So will the results of this investment be good.
Express News | BOCOM INTL: The sale of Intime by BABA-SW has an impact on total revenue of less than 1%.
Alibaba's New Retail major withdrawal.
Focus on the main business.
Alibaba lost 9.3 billion and sold 100% of its shares in Intime, while Youngor Group made another successful investment.
① Alibaba will sell 100% equity of Intime Department Store to a buyer consortium composed of Youngor Group and Intime management team members. ② This year, Youngor Group has strengthened its investment in physical businesses, opening 13 new fashion experience stores offline. ③ Alibaba entered Intime in 2014 and gradually became the largest shareholder; as New Retail progressed to a decline, Alibaba ultimately let go of Intime.
7.4 billion! Alibaba "shakes off" the burden, Youngor Group officially takes over Silver Intime Department Store.
Analysts point out that although the Youngor Group's acquisition helps its expansion in the retail market, the department store industry is continuously shrinking.
Express News | Youngor Group: The investment in Silver is aimed at ‘strengthening and supplementing the chain’ to improve the fashion ecosystem.
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