Alibaba Group Holding Ltd. will invest around RMB5.45 billion (US$865 million) for a 15% strategic stake in Beijing Easyhome Furnishing Chain Store Group Co., Ltd. as part of its “New Retail” business model, the company announced Sunday. Founded in 1999, Easyhome is the second largest home improvement and furniture chain operator in China, with sales of around RMB 60 billion (US$9.5 billion) for the year ending December 2017. Alibaba said it will apply its cloud and enterprise systems, as well as …

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