We have received your feedback.Thank you for taking your time in view of your busy schedule.
Teaming up with Dufry, what does Alibaba aim for?
On October 5, 2020, Dufry, which has been the world's largest duty-free retail giant for several years, announced that it had agreed to form a joint venture with Alibaba in China, with Alibaba and Dufry holding 51% and 49% respectively; meanwhile, Alibaba will take up to 9.99% interest in Dufry.
The two parties said the main purpose of the partnership is to jointly explore growth opportunities and develop the travel retail business in China, and to accelerate Dufry's digital transformation.
The partnership reflects Alibaba's ambition to accelerate its international presence, the Chinese government's efforts to find market-based competition in the duty-free sector, and China's changing role in the globalization process.