Alibaba Will Gradually Withdraw from Traditional Brick-and-Mortar Retail Industry
On February 7th, during the Alibaba Group Holding Limited‘s financial report conference call, Chairman Joseph Tsai responded to the question regarding “selling non-core assets” by stating that since the beginning of the fiscal year 2024, within a span of 9 months, Alibaba has successfully divested $1.7 billion worth of non-core assets. They are also actively exploring options for exiting listed stocks and have established a dedicated team for this purpose.
“At present, Alibaba still has some traditional physical retail businesses on its balance sheet. These are not core focused businesses, so it is reasonable for Alibaba to exit them. However, considering the current market situation, the exit may take time to be realized.”
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