Dufry has agreed to form a Joint Venture with Alibaba Group to partner in the Chinese travel retail markets.
WHO: Dufry first started to operate travel retail businesses in China in 2008. The business manages duty-free shops in Shanghai and Chengdu Airports, and its presence extends to Hong Kong and Macau.
WHY: The partnership with Alibaba Group is in line with Dufry’s growth strategy focusing on the Asian markets and builds on the company’s existing and long-dated footprint in China.
IN THEIR OWN WORDS: Julián Diáz, Dufry Group CEO, commented, “We highly value this partnership with Alibaba Group to form a strategic Joint Venture to explore growth opportunities and develop the travel retail business in China. We expect this collaboration to drive growth in Asia and with Chinese customers worldwide with the support of new digital technologies. Alibaba Group is a leader in digital commerce with an ecosystem of more than 800 million consumers in China. Dufry holds a leading position in travel retail globally and brings in its strong operational expertise in 65 countries and over 2,500 shops. By fostering existing and new business models in offline and online travel retail, we are convinced the Joint Venture will capitalize on growth opportunities and will support Dufry to become the leading digital travel retail company worldwide. We aim to better serve our customers and provide them anywhere with global products, services and personalized offers across all platforms and devices.”
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