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Alibaba (BABA) has opened its first flagship home furnishing store in the Chinese city of Hangzhou, which has the feel of an Ikea store but with the Chinese e-commerce giant's technology, according to China Money Network.

The store, called Home Times, offers over 20,000 items including furniture, kitchenware and stationery. Each product has an electronic price tag, which allows staff to match the price to the online retail price if needed.

Alibaba is slated to open three additional Home Times by the end of the year, and 15 in 2018.

Its opening marks Alibaba's second major push into China's roughly $130 billion home furnishing market. Last December, Alibaba opened House Selection, a designer home product store.

Shares of Alibaba were falling over 4% in afternoon trading on Monday. 

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