Alibaba separates from department store business: Sale to Youngor Fashion for 1 billion dollars planned

The Chinese technology giant Alibaba is close to finalizing a deal to sell its department store business. The prospective buyer, fashion company Youngor Fashion, is reportedly prepared to pay around 1 billion dollars for the acquisition. This information comes from sources familiar with the situation. Insiders report that the sale of Intime could be announced in the coming days. The exact details of the deal remain confidential for now, as the parties involved do not wish to speak publicly about the matter. The divestiture of the department store segment could be part of Alibaba's strategy to focus on its core areas in technology and further diversify the business.