Alibaba buys into home improvement business
HANGZHOU, Feb. 12 (Xinhua) -- Alibaba is to pay 5.5 billion yuan (870 million U.S. dollars) to buy a 15 percent stake in Easyhome, a domestic home improvement chain.
Alibaba will help digitalize Easyhome's outlets and "improve customer experience," according to their agreement, Alibaba sources said.
Beijing-based Easyhome had 223 outlets across the country at the end of 2017, recording sales of more than 60 billion yuan last year.[ Editor: zyq ]