The pair have entered into a joint venture which will see Dufry boost its digital technologies in the Chinese travel market.
Dufry is a Swiss-based travel retailer which operates duty-free and duty-paid shops and convenience stores in airports, cruise lines, seaports, railway stations and central tourist areas. With the added focus on digital experiences that are growing exceptionally more popular with consumers, the group has formed a joint venture to enhance their digital operations in Asia with Chinese e-commerce giant Alibaba Group. The joint venture will be 51 per cent owned by Alibaba Group and 49 per cent by Dufry, with Alibaba Group contributing its established network in the Chinese market and its extensive digital capabilities and Dufry offering its travel retail business in the region.
Dufry has commented that it expects the joint venture partnership to drive their company growth and expansion in Asia by utilising Alibaba’s digital capabilities to attract more Chinese customers globally.
Julian Diaz, Dufry Group Chief Executive Officer commented: “Alibaba Group is a leader in digital commerce with an ecosystem of more than 800 million consumers in China. By fostering existing and new business models in offline and online travel retail, we are convinced the joint venture will capitalise on growth opportunities and will support Dufry to become the leading digital travel retail company worldwide.”
