LVMH has signed an agreement with China Tourism Group (CTG) Duty Free for the sale of its travel retail activities in Hong Kong, Macau, and Greater China. This mainly concerns duty-free shops at airports.
Airport stores
LVMH, the luxury group behind brands such as Louis Vuitton, Givenchy, and Sephora, has sold the operations of its travel retail division DFS in China. The buyer, CTG Duty Free, is acquiring not only DFS’s stores at Hong Kong and Macau airports, but also its headquarters in Hong Kong and a range of brands and intellectual property that will be used exclusively in Greater China.
Following the sale of this branch, DFS will retain operations in Japan, the US, and the United Arab Emirates. However, observers are questioning the future of this relatively small division within the LVMH group.
