China Duty Free Group (01880.HK) announced the signing of a memorandum of cooperation with Vietnam's Imex Pan Pacific Group (IPP Group), officially establishing a strategic partnership. The cooperation between the two companies aims to expand business opportunities in the tourism and travel retail industry, while also promoting economic and trade cooperation between the two countries.

China Duty Free Group and IPP Group will jointly operate duty-free shops at strategically important locations in various parts of Vietnam, including airports and major tourist destinations. IPP Group will provide crucial local support, including logistics and facilitating approval processes, to ensure the smooth operation and management of the joint venture business. In order to enhance customer experience and improve sales, both companies will collaborate with hotels, banks, and digital platforms to implement a more comprehensive marketing strategy. Together, China Duty Free Group and IPP Group will explore new business development opportunities in the travel retail and tourism industries, aiming to enhance services and customer experience through collaborative investment and development projects, integrated marketing, and customer loyalty programs, with the goal of attracting and retaining a larger customer base.