Skip to Content
Global News Select

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 joshua.kirby@dowjones.com; @joshualeokirby

 

(END) Dow Jones Newswires

December 18, 2020 11:31 ET (16:31 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.