Retail Asia07/06/2019
1min0
Alibaba has invested US$640 million in Red Star Macalline Group, the largest furniture retail chain in China. Signalling a renewed interest in the home improvement business, Alibaba made the investment in the form of convertible bonds issued by Macalline’s controlling shareholder. The transaction will see Alibaba taking a 10 per cent shareholding of Macalline’s Shanghai […]