China's CTG Duty Free Gains on Plan to Buy LVMH's DFS Greater China Stores
By Jiahui Huang
Shares of China Tourism Group Duty Free rose after the company said it plans to acquire LVMH's DFS travel retail business in Hong Kong and Macau.
The stock rose 5.7% to 92.40 Hong Kong dollars, equivalent to $11.85, early Tuesday, while the Hang Seng Index fell 0.2%.
The gains followed a late-Monday announcement that the deal will include DFS's Hong Kong and Macau operations as well as related intangible assets in Greater China.
The acquisition will give China Duty Free exclusive access to DFS brands and intellectual property in Greater China, the company said.
LVMH and the Miller Family will also subscribe to newly issued H-shares in a capital increase. China Duty Free and LVMH also plan to establish a strategic retail partnership, the statement added.
The deal is expected to close in around two months, it said.
China Duty Free Group has benefited from the strong growth momentum driven by the Hainan offshore duty-free zone. Citi analysts expect that momentum to continue through the upcoming Lunar New Year holiday in February.
Beijing authorities rolled out new Hainan offshore duty-free policies that took effect in November last year.
Write to Jiahui Huang at jiahui.huang@wsj.com
(END) Dow Jones Newswires
January 19, 2026 22:18 ET (03:18 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Companies to Invest in Now
The 10 Best Dividend Stocks
United States