Alibaba Said to Near $1 Billion Intime Sale to Youngor Fashion

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 Intimeas 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 ...