The e-commerce group has taken a 25% stake in InTime, the owner of a chain of brick-and-mortar stores in China as it expands beyond the online market.
China-based e-commerce group Alibaba has agreed to invest HK$5.37bn ($692.2m) in China-based department store retailer Intime Retail that will also see the companies form a joint venture to develop online-to-offline (O2O) retail synergies.
The Wall Street Journal reported that the investment will involve Alibaba acquiring a 9.9% equity stake for $214m and $478m in convertible bonds that would increase its stake to 25% if converted.
The businesses previously collaborated on O2O initiatives in November, and Tmall.com, the Alibaba-owned online platform…
