Louis vuitton enter chinese market

In the past few decades, China has consistently achieved high GDP growth.

Louis vuitton enter chinese market

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O are taking their battle for relevance in the lucrative luxury goods market to a new level, as they aim to crack e-commerce tie-ups with top brands that usually shun selling through third parties. Both are banking that even elusive outsiders will tire of trying to fly solo in China, where potential clients shop far more by mobile phone apps than in the United States or Europe, and those in smaller, far-flung cities are hard to reach.

That echoes a similar message from its bigger competitor Alibaba and its Luxury Pavilion platform.

Louis vuitton enter chinese market

N jewels, have reached eye-watering amounts — while offering advantageous fees compared with Western equivalents. Alibaba is developing a specific app for Chinese travellers with its most significant luxury client to date, Cartier-owner Richemont CFR.

MI to sell a collection of its fancy puffer jackets designed solely for Pavilion. Alibaba, behind mass market shopping sites Tmall and Taobao and YouTube equivalent Youku, has already bagged distribution or content-sharing alliances ranging from U.

JD — which counts Tencent Holdings Ltd Ohelping it gain a foothold beyond China and Southeast Asia. PAsigning Balenciaga, known for its luxury sneakers, and fashion house Saint Laurent on to Toplife. SOLO EFFORTS Vuitton, one of the market leaders in the luxury sector with annual revenues estimated at more than 9 billion euros, is fiercely protective of its distribution as a means of controlling prices and supply.

Many are starting to spend more at home rather than on overseas trips, encouraged by government measures such as cuts in import duties, leading labels to lower prices accordingly. But while Vuitton has stores in 20 Chinese cities, it is relying like rivals on online sales to reach clients beyond that base.

The group says it can give luxury brands visibility and access to those areas, and also crunch data from its more than million online shopping clients to help them identify pockets of demand. That is in line with the broader online shopping sector in China, but lower than the percent average on U.

JD declined to give details. Other LVMH brands have already taken the plunge, including several cosmetics labels such as Benefit, which retails on Tmall.

Louis vuitton enter chinese market

Gucci has made its red lines clear, demanding more of a crackdown on fake luxury goods circulating on the likes of Tmall. JD and Alibaba will still have to persuade brands that their platforms can deliver. They aim to eventually reach a universe of to luxury labels, up from the 80 Toplife expects to have by year end or the 75 Pavilion now boasts.

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In As a symbol of status and wealth. ) Gucci with its high fashion. was created by a leather designer named Louis Vuitton (). price. Tiffany & Company (NYSE: TIF) traded 7% lower on Wednesday morning on concerns about a slowdown in Chinese consumer spending. French luxury retailer Louis Vuitton .

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