DFS Group picks 22% stake in e-commerce unit of Chinese duty-free operator

DFS Group, a Hong Kong-based travel retailer majority-owned by global luxury conglomerate LVMH, has become the second-largest shareholder in the e-commerce unit of Chinese state-owned duty-free products provider Shenzhen State-Owned Duty-Free Commodity Group.

DFS Group acquired a 22 per cent stake in the unit while the state-owned player holds 40 per cent stake. Financial details of the transaction were not disclosed.

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