Closer Look: Alibaba, Traditional Retailer Agree to Try to Build New Sales Model

(Beijing) – Alibaba Group said on March 31 that it will invest HK$ 5.37 billion in Hong Kong-listed Intime Retail (Group) Co. Ltd., giving it a stake of 9.9 percent. The deal could eventually give the country's largest e-commerce company at least 25 percent of Intime's shares over next three years.

The firms will establish a joint-stock company that shares information about frequent customers and use a common payment service and inventory management system for Alibaba's shopping sites and Intime's brick-and-mortar stores.