LONDON — In a year plagued by COVID-19, China as the world’s largest luxury market has shown great resilience and delivered promising results for those brands that got their China strategy right.
The fashion and leather goods division at LVMH posted growth of more than 65 percent in China in the second quarter, while Kering said sales in mainland China rose more than 40 percent in the same period. China also bolstered Compagnie Financière Richemont’s performance, with sales in the region up 78 percent at actual rates in the first half of the year ended Sept. 30.
Intime introduced free shipping for all in-app purchases and partnered with Cainiao, Alibaba’s logistics network, to help cover deliveries within a 10-kilometer radius of any store location, to further encourage online spending. Before moving its men’s wear show to Shanghai in August, Louis Vuitton experimented with livestreaming with the popular social commerce platform Xiaohongshu to promote its summer collection back in April.
In Guangzhou, Hermès hauled in $2.7 million on the reopening day of its 5,500-square-foot Taikoo Hui flagship store in April. Rare bags, including a diamond-studded Himalayan Birkin, were shipped to the location. VIPs from across the Guangdong province, the wealthiest area in China with Guangzhou its capital, descended on the store to purchase tableware, shoes, furniture and leather goods.
Coach was one of the first brands to join this channel, and the discount goes as deep as 70 percent off. This move paved the way for the brand to become one of the three brands that hit the 100 million renminbi, or $15.2 million, sales mark during the Singles’ Day shopping festival on Tmall this year, alongside Cartier and Michael Kors. It also became the best selling brand in the bag and accessories category.
Twitter has sold out to china too.
Twitter should not shower for china propaganda.