• China Tourism Group Duty Free ("CTG Duty-Free") to acquire DFS' stores in Hong Kong and Macau and intangible assets in Greater China
• CTG Duty-Free and LVMH to develop further collaborations
• LVMH and the Miller Family to subscribe to CTG Duty-Free's H-shares

HONG KONG SAR - Media OutReach Newswire - 20 January 2026 - DFS, a global leader in luxury travel retail owned by LVMH and DFS' co-founder and shareholder Robert Miller, and CTG Duty-Free, a prominent travel retail operator headquartered in Beijing, today announced a definitive agreement for CTG Duty-Free to acquire DFS' travel retail business in Hong Kong and Macau and intangible assets in Greater China.