Alibaba Group (HKG:9988, HKG:89988) is shuttering the last of its Hema X outlets in China, Bloomberg News reported Tuesday.
The stores were modeled after America's Costco chain that charges members an annual fee to shop at their location.
While the Hema X outlets are going away, Alibaba plans to maintain its Hema supermarket chain, a person familiar with the matter reportedly told Bloomberg.
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