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Bloomberg Published December 16, 2024 Download
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Alibaba said to near $1 billion Intime sale to Youngor Fashion

By
Bloomberg Published
December 16, 2024

Alibaba Group Holding Ltd. is nearing a deal to sell its department store business to Youngor Fashion Co. for around $1 billion, according to people familiar with the matter.

The Chinese tech group could announce the sale of Intime as soon as the coming days, the people said, asking not to be identified because the information is private.
Alibaba acquired Intime for about $2.6 billion in 2017. It had reached out to several potential buyers earlier this year, Bloomberg News reported in February.

In a shift in strategy under new leadership since last year, Alibaba has been focusing more on core e-commerce operations and its cloud-computing business. Deliberations are ongoing and talks could still drag on longer or fall apart, the people said.