Alibaba is reportedly selling its Intime department store operation to Youngor Fashion Co for approximately $1 billion.

The Chinese tech giant is expected to announce the sale later this week, Bloomberg reported, citing people with knowledge of the matter.

The deal is believed to be part of the company’s strategy to focus more on core e-commerce operations and its cloud-computing business.

The firm bought Intime for $2.6 billion in 2017 and has reportedly been mulling the sale of the business since earlier this year.

According to the South China Morning Post, Alibaba implemented a corporate restructuring early last year that carved up its business empire into six units.

Last month, Alibaba merged its domestic and overseas e-commerce operations into one unit.

The company missed analysts’ estimates for second-quarter sales amid persistent economic uncertainty that affected consumer spending in China.