Alibaba Group Holding Ltd. agreed to buy as much as a 9.99% stake in Dufry AG, giving the Swiss duty-free giant a lifeline as the pandemic hammers the business. Dufry announced a $311m deal in August to buy the 42 per cent of Hudson it did not already own and delist the company from the New York Stock Exchange. Global travel retail industry The travel retail industry is segmented based on product, channel, and region. Dufry Group has concluded the rights offering for a tranche of new shares. Dufry Blogs, Comments and Archive News on Economictimes.com HNA Group declined to comment. Dufry employs about 31,000 people and said in June it plans to reduce personnel expenses by 20 percent to 35 percent as revenue plummets. China's Alibaba plans to acquire a stake of up to 9.99% in Swiss duty free group Dufry, Dufry said on Monday, as it announced a new Chinese joint venture with the tech giant. View detailed DUFRY description & address. Immediately following the closing of the offering, Advent International will own a stake of 11.4% in Dufry and Alibaba Group of 6.1%. Dufry has agreed to form a Joint Venture with Alibaba Group to partner in the Chinese travel retail markets. Immediately following the closing of the offering, Advent International will own … ... LVMH owns rival chain DFS. WHO: Dufry first started to operate travel retail businesses in China in 2008. We have our own loyalty programme, Red By Dufry. Thanks to an amazing group of talented team members, World Duty Free (WDF) is the market leader in UK airport retail. Shares of Switzerland and Brazil-listed Dufry closed at CHF159.2 (US$160) yesterday, indicating that HNA Group is buying Dufry for a market value of around CHF1.44 billion (US$1.45 billion). THE WHAT? Hudson completes merger with Dufry AG By: Gabrielle Saulsbery December 2, 2020 11:58 am The airport retailer now owns more than 1,000 stores in … DUFRY DOO BEOGRAD is located in Beograd (grad), Serbia and is part of the Grocery Stores & Supermarkets Industry. I love it We were told about this app from a cashier at the duty free store in Lima Peru, we got good discounts for 3 Peruvian Pisco varieties and souvenirs...the thing was we didn’t have wifi or internet connection so she and her friend opened the “Red by Dufry” acc from their own cells and she told us to change the basic password when we get home. Dufry owns World Duty Free, one of the world’s most popular travel retail brands. Recommended. Building a partnership The e-commerce giant and duty-free retail juggernaut Dufry will set up a joint venture in China as Covid-19 boosts domestic travel spending in a move that could challenge the dominance of … China's duty-free retail giant China Duty Free Group owns all four offshore duty-free shops in Hainan. SHARE LONDON, October 22, 2020 – Dufry AG (SIX: DUFN) (“Dufry”) announces that it has successfully concluded the rights offering. Dufry shares were up 0.5 per cent in early trading in Zurich. The company set the share price at CHF33.22 (US$36.50) each, in line with the volume weighted average price of the existing shares as of market close on 19 October. In major breaking news, Dufry and Hudson announced today that Dufry is to acquire all the equity interests in Hudson it does not already own. Alibaba Partners With Dufry to Ride China's Domestic Travel Boom. Advent International Corp. is also investing in Dufry and once the capital increase is closed, the private equity group will own an 11.4 percent stake. We operate in 400 locations divided between five geographical areas. The company, headquartered in Basel, Switzerland, operates in over 60 countries worldwide. Dufry will contribute its existing travel retail business in China, ... Alibaba operates its own duty-free e-commerce portal through Fliggy, the group's travel services platform. There are 473 companies in the DUFRY DOO BEOGRAD corporate family. Elliott did not immediately respond to a request for comment. Richemont has an online joint venture with Alibaba called Feng Mao, which started operating last year. Company profile for Dufry AG ADR including key executives, insider trading, ownership, revenue and average growth rates. Richemont bought a stake in Dufry in 2017. DUFRY DOO BEOGRAD has 105 employees at this location and generates $32.34 million in sales (USD). Its parent company China Tourism Group Duty Free generated 19.3 million yuan in revenue in the first half of 2020, beating Dufry as the world's largest duty-free retailer. Support quality journalism in China. BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Dufry AG (DFRYF.PK) said it has successfully concluded the rights offering. Close Alibaba Dufry. Luxury-goods makers have invested in the sector to promote their brands to travelers. Dufry has concluded its ordinary capital increase by way of a rights offering, raising around CHF820 million (US$901 million) from the sale of 24,696,516 new shares. Dufry already owns 57.4% of Hudson, which it floated in 2018 to fund a share buyback and dividends. Find the latest DUFRY AG (DUFRY) stock quote, history, news and other vital information to help you with your stock trading and investing. Alibaba Group To Own Stake Of 6.1% In Dufry: 938: AFX News: BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Dufry AG (DFRYF.PK) said it has successfully concluded the rights offering. Dufry AG said it has successfully concluded the rights offering. Following the closing of the offering, Alibaba Group will own a 6.1% stake in Dufry and Advent International will own 11.4%. Dufry AG is a Swiss-based travel retailer operating around 2,200 duty-free and duty-paid shops in airports, cruise lines, seaports, railway stations and central tourist areas. Aron Chen. The deal allows Alibaba, which already offers an advanced online experience of duty-free shopping on its Fliggy website, to join hands with one of the world's largest duty-free retailer. SWITZERLAND. posted on October 15, 2020 0:24 pm. LVMH owns rival chain DFS. Temasek owns 8.6 per cent of Dufry, GIC 7.8 per cent and QIA 6.9 per cent, according to Dufry's annual report. Dufry Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. through which we offer our members exclusive benefits and experiences in many of the leading airport stores: MichaelKors Superdry Gap Victoria's Secret. Luxury-goods makers have invested in the sector to promote their brands to travelers. Dufry’s share price rose 3.2 per cent on the news in morning trading. Richemont has an online joint venture with Alibaba called Feng Mao, which started operating last year. As part of Dufry, we have over 2,200 shops in 63 countries employing 31,000 staff servicing the shopping needs of 100s of millions of passengers. The Alibaba group is set to take up to 10 percent in the world’s largest duty free company Dufry as part of a new Joint Venture, in a move that will help it capitalize on the Chinese travel retail market. Richemont bought a stake in Dufry in 2017. Prior to the offering, Dufry secured equity investment from Advent International Corporation and a subsidiary of the Alibaba Group to purchase any shares not take up by existing shareholders. LVMH owns rival chain DFS. Subscribe to Caixin Global starting at $0.99. Based on the offer price of 33.22 francs per new share, Dufry expects gross proceeds of 820 million Swiss francs. No financial details were announced in a company announcement. Sur de Europa y África; Dufry employs almost 29,000 people. The business manages duty-free shops in Shanghai and Chengdu Airports, and … The news and convenience retailer will become an indirect wholly owned subsidiary of Dufry and will be delisted from the New York Stock Exchange. THE DETAILS Alibaba will own a 51 percent stake of the JV while Dufry will take 49 percent. China's HNA Group has struck again, acquiring a 16.79% stake in Dufry AG, a Swiss airport duty free shop operator. 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