SHANGHAI -- Chinese e-commerce conglomerate Alibaba Group Holding on Tuesday said it will sell its stake in department store chain Intime to clothing company Youngor Group and members of Intime's management team.
Business deals
Alibaba to sell Chinese department store chain, booking $1.3bn loss
E-tailer unloads Intime as it sharpens focus on hotly competitive core business
An Intime department store in Beijing is pictured in 2017, the year Alibaba took control of the business in a take-private deal. © Reuters
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