Alibaba to Sell Stake in Chinese Hypermarket Operator

Alibaba Group has agreed to sell its shares in a Chinese hypermarket operator in a $1.7 billion deal, the latest divestment as part of the company’s efforts to focus on its core e-commerce business.

The company will sell its entire 78.7% stake in Hong Kong-listed Sun Art Retail Group to Chinese private-equity firm DCP Capital Partners for gross proceeds of up to $1.6 billion, Alibaba said Wednesday.

Alibaba expects to book a divestment loss of nearly $1.8 billion based on the estimated fair value of the consideration receivable for the sale of shares.

The e-commerce giant had bought a controlling stake in the hypermarket store operator in 2020 for $3.6 billion.

In a filing to the Hong Kong exchange Wednesday, Sun Art said that the acquirer plans to delist the company and conduct a strategic review of the hypermarket operator’s businesses.

Once a Wall Street favorite and a leader in China’s e-commerce, Alibaba is facing challenges in growing its revenue. The company is losing some of its market share amid a slowing Chinese economy and rising competition from domestic rivals like Pinduoduo and Douyin.

Last month, the company announced that it, along with a minority shareholder, had agreed to sell department-store chain Intime for $1.02 billion. The e-commerce giant said then that it anticipated to incur an over $1.0 billion loss from the sale of Intime.

There was a time — not so long ago — when the idea of an indulgent spa day was simply about relaxing massages and therapeutic facials, followed by a five-star lunch and perhaps a dip in a mineral pool. But the health and wellness industry has evolved rapidly, bringing with it an explosion of cutting-edge treatments designed to slow ageing, boost vitality, and extend healthspan.

Cold-water plunge pools, infrared saunas, and float tanks have taken over as the staples of health spas, wellness centres, and high-end gyms. Even real estate developments are tapping into this trend. But now, high-tech longevity treatments — from cryotherapy and IV infusions to genetic testing and advanced cellular therapies — are taking the wellness scene in Australia to unprecedented levels.

A burgeoning market globally, the health and wellness industry is estimated to have been worth more than US$5.6 trillion in 2022. Projections suggest this figure will grow to a staggering $13 trillion by 2031, with Australia steadily catching up to the US and Europe, where longevity treatments are thriving. High-profile figures like Gwyneth Paltrow, Jennifer Aniston, Chris Hemsworth, and even Tom Brady are among the faces championing biohacking and experimental therapies, from stem cell infusions to blood transfusions.

The Rise of Longevity Clinics in Australia
One of the key players in Australia’s emerging longevity scene is Tristan Sternson, founder of Super Young. Sternson’s foray into the world of longevity treatments began as he approached 40 — a milestone that made him reflect on his health. As a former elite athlete, the transition from feeling invincible to feeling vulnerable led him to explore solutions that would help him reclaim vitality.

Tristan Sternson, Nick Bell and Jarrod Kagan from Super Young

Initially frustrated by the lack of accessible health data locally, Sternson turned to overseas clinics for tests and treatments that painted a clearer picture of his biological needs. His experience inspired him to create Super Young, a Melbourne-based clinic offering evidence-based therapies tailored to individual needs. Services include cryotherapy, IV infusions, genetic testing, and biological age assessments. Memberships range from $85–$289 per week, while one-off tests start at $899.

Sternson emphasises the importance of personalised treatments. “I want people to start with the evidence side of it so they can really understand their own body and what treatments will work for them,” he says.

The Science of Longevity Medicine
Dr Karen Coates, an integrative medical doctor and a presenter for The Longevity Project at Gwinganna Lifestyle Retreat, echoes Sternson’s emphasis on personalisation. She explains that longevity isn’t just about living longer but about living better — optimising health today while securing vitality for the future.

“One-size-fits-all approaches don’t apply when it comes to longevity,” says Dr Coates. “It’s about understanding your body’s genetic makeup and adopting personalised strategies to support health and longevity.”

At Gwinganna’s four-night Longevity Project retreat, guests can undergo gene testing, biological age assessments, and learn strategies to bridge the gap between chronological and biological age. Packages for the retreat range from $2915 to $5460.

Biohacking for All Budgets
Not all longevity treatments come with hefty price tags. Health coach Camilla Thompson points out that simple lifestyle adjustments — like cold showers to stimulate circulation or adding Celtic sea salt to water for better hydration — can supplement advanced therapies.

While advanced treatments like stem cell and peptide therapies are yet to gain widespread regulatory approval in Australia, Sternson is optimistic about their future. He envisions a time when longevity centres will be as common as gyms, giving clients the tools to monitor and manage their health with precision.

“What I’d love to see is health insurance companies get on board,” Sternson adds. “If they can give discounts for safe driving based on car data, why not for healthy habits based on glucose monitoring or other health indicators?”

As Australia continues to embrace longevity medicine, it’s clear the industry is poised to reshape not just health and wellness but how Australians approach ageing itself.

Alibaba to Sell Stake in Chinese Hypermarket Operator

The company will sell its entire 78.7% stake in Hong Kong-listed Sun Art Retail Group

As global demand for longevity treatments surges, Australia is fast becoming a player in this lucrative industry.