China’s e-commerce giant Alibaba Group is selling Intime, a prominent domestic department store chain it acquired in 2016, as part of its strategy to focus on core operations such as e-commerce and cloud computing. The sale is aimed at pulling back from brick-and-mortar retail operations. Alibaba has agreed to sell Intime to Chinese apparel firm Youngor Fashion. This move follows the company’s efforts to streamline its business and prioritize its main revenue streams.
Source: https://www.theinformation.com/briefings/alibaba-to-sell-department-store-business-in-china