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 email@example.com; @joshualeokirby
(END) Dow Jones Newswires
December 18, 2020 11:31 ET (16:31 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.