Tmall won over luxury brands in 2018

Glossy – Tmall, the massive Chinese e-commerce platform, has positioned itself as the gateway between brands from outside of China and Chinese consumers, who are increasingly some of the most valuable and lucrative audiences for luxury brands. Over the course of 2018, Tmall’s effort to lure more luxury brands was proven successful as an accelerating cadre of luxury brands joined the program, culminating with Bottega Veneta, which joined the program on Tuesday.

In August 2017, Tmall launched the Luxury Pavilion, a platform for luxury brands outside of China to sell their goods to Chinese customers without having to build their own infrastructure. At launch, there were only 17 brands on the Luxury Pavilion. Now, just over a year later, that number has snowballed to a total of 82. In the week spanning the end of November and the beginning of December, the program gained two new, big names in the luxury space: Ermenegildo Zegna and Valentino. Tmall celebrated the launch of Valentino by debuting its new computer-generated “digital influencer,” Noonoouri, wearing a Valentino outfit.

“Many Western luxury brands are joining Tmall’s Luxury Pavillion, and for good reasons,” said David Naumann, vp of marketing at BRP, retail consulting firm. “The China market is the single largest market for luxury goods in the world, as it currently accounts for a third of all luxury goods worldwide, and that percentage will continue to increase. Luxury brands can’t ignore this massive market. Tmall’s Luxury Pavillion is the top online location for China’s luxury shoppers.”

Naumann pointed to recent stats, like online sales accounting for 25 percent of all luxury sales by 2025, as evidence that Tmall is in a good place to capture more luxury sales.

Read Full Article: Tmall won over luxury brands in 2018

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *