Alibaba to invest $865 mn in China's home improvement chain
Chinese e-commerce giant Alibaba is planning to invest $865 million for a 15% stake in China's home improvement chain, Easyhome. The investment underscores the company's retail strategy, aimed at leveraging offline and online activities, Alibaba said in a statement. Easyhome, which started operations in 1999, is China's second-biggest home improvement supplies and furniture chain operator.