Home International News Alibaba invests another US $1.3 billion into its offline retail strategy

Alibaba invests another US $1.3 billion into its offline retail strategy

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Group Holding will pay about 5.45 billion yuan (US $866 million) for a 15 percent stake in China’s , a home improvement chain, as the internet giant expands its investments in offline and retail businesses and will also pump US $486 million into a big data retail firm.

Alibaba invests another US .3 billion into its offline retail strategy
The investment underscores the company's retail strategy, aimed at leveraging offline and online activities

The investment in Easyhome underscores the company’s retail strategy, aimed at leveraging offline and online activities, Alibaba said in a statement.

Easyhome, which started operations in 1999, is China’s second-biggest home improvement supplies and furniture chain operator, the statement said. The Beijing-based company reported more than 60 billion yuan in sales last year.

The firm will buy a 38 per cent stake in via its subsidiary Alibaba Investment Ltd, Shiji’s listed parent said in a filing to the Shenzhen Stock Exchange on Thursday.