Alibaba Set to Sell Intime to Youngor Fashion for $1 Billion

Alibaba Group Holding Ltd. is set to finalize an agreement to sell its retail chain Intime to Youngor Fashion Co. for approximately $1 billion. According to sources who wish to remain anonymous due to the private nature of the discussions, the sale is expected to be announced in the coming days.

The potential sale is part of Alibaba's strategic transformation under its new management since last year, as the company focuses on its core e-commerce and cloud computing businesses. This move comes after Alibaba acquired Intime for about $2.6 billion in 2017.

Earlier this year, it was reported that Alibaba reached out to multiple potential buyers, a process that was examined by Bloomberg News in February. Although the talks are at an advanced stage, it is important to note that negotiations are still ongoing. Therefore, there is also a possibility that the discussions could extend or that an agreement may not be reached.

At this time, neither Alibaba nor Youngor has issued an official statement when approached for comments.