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Net-A-Porter makes big step entering China – Retail in Asia

Retail in Asia

In Trends

Net-A-Porter makes big step entering China

The Chinese e-commerce platform Shouke Limited, founded by multi-brand retailer Joyce is set to be acquired by the London-based online retail powerhouse Net-A-Porter, marking that company’s first major foray into the China market. As trade title WWD noted on Tuesday, following its purchase of Shouke, Net-A-Porter plans to launch a new website based in China this March, and open a distribution centre in Hong Kong at an unspecified later date. Though details are scarce pending an official announcement expected this week, Shouke’s founders are expected to stay on-board following Net-A-Porter’s acquisition to run the company’s Asia-Pacific division.

While Net-A-Porter’s plans to move into the China market have long been expected – the country’s luxury e-commerce sales surpassed CNY10 billion (USD1.59b) for the first time last year, and are projected to grow at a pace of 30 percent annually for the next several years – its status and reputation abroad don’t mean China will be an easy market.