Private equity firm DCP Capital has agreed to acquire Alibaba’s majority stake in Sun Art, which operates the RT-Mart chain and the Costco-like M-Club membership stores across China.

Alibaba sold its 73.66% stake in Sun Art to DCP Capital for US$1.6bn, reflecting a shift away from its New Retail strategy. The sale is positive as Sun Art faces a competitive offline retail ...

This marks Alibaba’s second major divestment of a bricks-and-mortar business. In December, the company sold its entire stake in department store chain Intime Retail (Group) to Chinese apparel ...

Alibaba Group Holding surprised investors a few years ago when the e-commerce giant’s employee headcount surged to 252,084 at the end of December 2020, more than double its 122,399 total in the ...

An Alibaba-affiliated company, New Retail, will also sell its 5.04% minority stake, leaving Alibaba with no remaining equity interest in Sun Art. Alibaba's disposal, which it estimated would ...

Alibaba has agreed to sell its entire stake ... The move was part of its ambitious strategy begun in 2016 to create a “new retail” model blending online and offline shopping experiences.

In October 2020, Alibaba took control of Sun Art from its French owner, the Mulliez family, for HK$28 billion amid the e-commerce giant's ambition to create a "new retail" model that leverages ...

The transaction involves the sale of a 78.7% stake currently held by Alibaba's subsidiaries A-RT Retail, Taobao China and New Retail, as detailed in a disclosure to the Hong Kong Stock Exchange.

In October 2020, Alibaba took control of Sun Art from its French owner, the Mulliez family, for HK$28 billion amid the e-commerce giant's ambition to create a "new retail" model that leverages online ...