Alibaba steps back from brick-and-mortar retailing with eye on capital efficiency

Alibaba steps back from brick-and-mortar retailing with eye on capital efficiency

FILE PHOTO: A person walks past a sign of Alibaba Group during the World Artificial Intelligence Conference, following the coronavirus disease (COVID-19) outbreak, in Shanghai, China, September 1, 2022. REUTERS/Aly Song

Alibaba Group Holding, China’s largest e-commerce company, is pulling away from its forays into offline retailing, shedding noncore investments as it pivots from expansion to focus on capital efficiency.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter