Gucci to Open Two Virtual Stores on Alibaba's Luxury Platform in China
By Joshua Kirby
Kering's Gucci is to open two online stores on Alibaba Group
Holding Ltd.'s Chinese retail platform Tmall Luxury Pavilion, as
the brand looks to extend its e-commerce offering in the world's
fastest-growing luxury market, it said Friday.
Under the partnership, Gucci will open its first virtual store
on Tmall on Monday, offering Chinese consumers its fashion range
including apparel, leather goods, accessories, watches and jewelry.
A second store, operated by the brand's license partner Coty Inc.,
will sell Gucci's beauty range, including perfumes, skin and body
care and cosmetics.
Gucci's Chief Executive, Marco Bizzarri, said the creation of
the "authorized, customized e-commerce experience" is part of the
brand's digital-first approach, including the establishment of a
dedicated Chinese digital ecosystem in recent years.
Revenue at Gucci, which contributes a majority of Kering's
earnings, has been hit harder than some other luxury brands this
year, as sales to a core clientele of Chinese tourists buying in
Europe declined sharply amid the coronavirus pandemic. Analysts
have said that luxury brands are likely to shift their focus over
the next few years to selling to Chinese consumers in China, rather
than abroad, including through new e-commerce platforms.
Write to Joshua Kirby at firstname.lastname@example.org;
(END) Dow Jones Newswires
December 18, 2020 11:31 ET (16:31 GMT)
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