French luxurious group LVMH stated on Monday that it has agreed to promote its DFS journey retail enterprise in Hong Kong and Macau, in addition to its intangible property in better China to China Tourism Group Duty Free Corp, a Chinese journey retail operator.
The deal was valued at round $395 million.
By Louise Rasmussen
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Disclosure: LVMH is an element of a gaggle of buyers who, collectively, maintain a minority curiosity in The Business of Fashion. All buyers have signed shareholders’ documentation guaranteeing BoF’s full editorial independence.