Alibaba's new CEO, Eddie Wu, has initiated a review of the company's businesses to identify core and non-core units. The management change has led to a renewed focus on domestic eCommerce, investment in AI, cloud computing, and overseas expansion. However, it remains uncertain whether Alibaba will proceed with the sale of its physical retail businesses.
Key takeaways:
- Alibaba Group is reportedly considering selling several of its physical businesses, including Freshippo, RT-Mart, and Intime, as it aims to focus on its core eCommerce business.
- The company is in discussions with potential investors, but it is still uncertain whether the sale will proceed.
- The potential sale is part of Alibaba's restructuring efforts and is influenced by China's increased scrutiny over initial public offerings.
- Alibaba's management change has led to a renewed focus on domestic eCommerce, investment in artificial intelligence, cloud computing and overseas expansion.