HONG KONG -- Alibaba Group Holding has teamed up with Swiss duty-free shop chain Dufry Group to target Chinese who are starting to travel again even as much of the world remains bound up by coronavirus pandemic controls.
Under the deal announced on Monday, Alibaba will acquire a stake of just below 10% in Dufry while also taking a 51% interest in a joint venture to be formed in China with its new partner.
