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Alibaba in new omnichannel push with retail deal
New York -- Alibaba Group Holding Ltd. has entered into its biggest deal ever — and this one is in the brick-and-mortar arena.
The Internet giant has invested approximately $4.63 billion in Chinese consumer electronics retailer Suning, which operates more than 1,600 stores across 289 cities in China. The investment gives Alibaba a 19.9% stake, making it the second largest shareholder in the company.
In return, Suning will invest up to $2.28 billion to subscribe to new shares of Alibaba.
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Coming soon to Target: Gender-free signage
Minneapolis -- Parents and others shopping for toys at Target will no longer be offered product suggestions based on gender.
The retailer announced it plans to start removing gender-based signage in several departments, including toys, bedding and entertainment. Target said it made the decision after feedback and suggestions from customers.