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The One-year Decline in Earnings for Youngor Fashion SHSE:600177) Isn't Encouraging, but Shareholders Are Still up 47% Over That Period
Youngor Group (600177.SH) takes over Intime Department Store. The company responds: aiming to "strengthen and supplement the supply chain" to improve the fashion ecosystem.
In response to taking over Intime Department Store, Youngor Group (600177.SH) stated that this joint investment in Intime with the management team aims to 'strengthen and complement the supply chain' and improve the fashion ecosystem.
Alibaba lost 9.3 billion and sold 100% of its shares in Intime, while Youngor Group made another successful investment.
① Alibaba will sell 100% equity of Intime Department Store to a buyer consortium composed of Youngor Group and Intime management team members. ② This year, Youngor Group has strengthened its investment in physical businesses, opening 13 new fashion experience stores offline. ③ Alibaba entered Intime in 2014 and gradually became the largest shareholder; as New Retail progressed to a decline, Alibaba ultimately let go of Intime.
7.4 billion! Alibaba "shakes off" the burden, Youngor Group officially takes over Silver Intime Department Store.
① Analysts have pointed out that although Youngor Group's acquisition helps its expansion in the Retail Trade market, the department store industry is in a state of continuous contraction. ② Alibaba's acquisitions of Intime and RT-Mart and other physical retail companies aimed to promote brand presence on Tmall, accelerate the digital transformation of the Retail Trade, and explore the application of instant retail innovation models in physical retail.
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