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Alibaba and Dufry team up to woo duty-free shoppers

Deal could help Swiss chain regain global sales crown from Chinese rival

Dufry operates duty-free shops in Bali and 32 other locations in 17 countries in Asia-Pacific and the Middle East.    © Reuters

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.

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