Airports, Alibaba-Dufry agreement on travel retail
It aims to develop this business in China
As reported by Chinese media, on Monday October 5, 2020, an important joint-venture involving Alibaba and Dufry was signed. First Group is famous for its technological services and electronic commerce, while Dufry is a Swiss travel retailer. The two companies will join forces to strengthen the so-called “travel retail” sector; these two words usually identify an evolution of classic retail distribution, as spaces used for purposes other than those of commerce are used in meeting and sales areas (airports and stations in particular). 51% of the joint venture will be held by Alibaba, a strategic partnership which aims to develop the sector in China.
It is also aimed at the growth of customers of the former celestial empire in every corner of the planet thanks to the fundamental contribution of new digital technologies. Just under 10% of the post-offer share capital will be invested by the e-commerce company, attempting to exploit Dufry's main services, namely the management of duty-free shops and convenience stores in airports, ports, railway stations and areas tourist around the world. The Swiss company has been active in China since 2008 and this further step forward demonstrates how strong the interest is in investing in this Asian nation.
AVIONEWS - World Aeronautical Press Agency