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Alibaba said to sell its department store chain Intime Retail
Alibaba Group Holding is reportedly preparing to sell its department store chain, Intime Retail, to Youngor Fashion, a Chinese apparel company.
Neither Alibaba nor Youngor, which is headquartered in Ningbo, China, responded to requests for comment about the sale.
If confirmed, the sale would end Alibaba’s seven-year ownership of Intime Retail.
The company privatized the shopping center and department store chain in a deal worth HK$19.8 billion (US$2.5 billion).
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