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《大行报告》花旗:阿里(09988.HK)与Dufry组合资 可受惠消费者对国际品牌增长需求
阿思达克 10-07 10:11
花旗发表的研究报告指,10月5日Dufry宣布与阿里巴巴(09988.HK)成立合营,寻找内地的增长机遇并拓展旅游零售业务,阿里将持有合营的51%而Dufry将持有49%,另外阿里亦计划投资Dufry不多於2.5亿瑞士法郎,持股最多9.99%。而在合营里,Dufry将在中国拓展其旅游零售业务,并为合营带来供应链及经营技术的支持,而阿里则会提供在内地的网络及数码化能力。

该行相信阿里作出投资背後的理据,认为或是疫情後的旅游禁令及对环球旅游零售业带来的影响促使双方组合营,认为旅游限制带动内地对进口货的强劲需求。另外今年初内地颁布海南免税品的政策,并自7月1日起生效,每人的免税消费额达10万元人民币,估计合营将受惠消费者对国际品牌需求增加。

该行亦相信对阿里来说,双方的合作可借助Dufry的供应链和经营能力,而将Dufry数码化亦有助阿里获得更多线下消费习惯的数据,而Dufry的国际化足迹则可为阿里提供国际消费习惯资讯,支撑其国际化策略,到国际旅游恢复时则可为本地消费者提供更方便的服务,相信今次只是阿里打入国际零售渠道的开始。

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