French fashion label Saint Laurent, part of Kering, will start selling online in China through a JD.com portal, joining shopping players like Alibaba in trying to tap strong luxury goods demand from Chinese consumers.
The French brand created in 1961 by its late founder Yves Saint Laurent, said it was partnering with Toplife, a platform launched last October by JD.com, which aims to woo luxury buyers with same-day deliveries and premium services.
“Thanks to the sophisticated logistics network and personalised platform provided by our partnership with Toplife, Saint Laurent will be able to implement its omnichannel development in China, securing a top-level luxury journey to our clients,” said Francesca Bellettini, president and chief executive of Saint Laurent, in a statement.
Brands on the platform will have access to “JD.com’s upper middle class user base” and “an online luxury experience that can match the in-store experience,” said Xia Ding, president of JD.com’s fashion division.
Chinese shoppers made up 32 percent of the worldwide luxury market in 2017, more than any other nationality, consultancy Bain & Co said, making it a crucial market for fashion brands.
KPMG has projected, meanwhile, that half of China’s domestic luxury consumption could come from web sales by 2020.
Online shopping has proved a potent earnings driver for fashion brands even if many were initially reluctant to distribute their wares too widely.
High-end fashion houses are still wary of alliances with mass-market platforms such as Amazon, however, fearful they will lose control of their image.
JD.com and Alibaba’s specialist luxury platforms have already lured several other brands, touting themselves as more exclusive, selective sites.
(Source: The Business of Fashion )