Apr 16, 2024 03:12 AM

BUSINESS

Alibaba Diverts from New Retail Push in Strategy Reckoning

By Bao Yunhong, Sun Yanran, Qu Yunxu and Han Wei

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Freshippo opened its first store in Shanghai in January 2016.

Freshippo opened its first store in Shanghai in January 2016.

As part of a sweeping business revamp to rebuild growth, Alibaba Group Holding Ltd. has been dialing back its “new retail” push, sparking speculation that its offline retail businesses such as Freshippo and RT-Mart might be put up for sale.

While emphasizing its focus on its core e-commerce and cloud computing businesses, Alibaba’s leadership has signaled an intent to shed marginal assets.

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