On Friday 18 December, Kering’s iconic brand and China’s largest e-commerce platform announced their new alliance in a joint press release. Analysis of a market segment that is not experiencing the crisis.
Once again, the impact of the health crisis on the luxury sector is pushing luxury brands to adopt new strategies and experiment with new methods. All the houses, without exception, are therefore turning to the Chinese market, the main growth vector for luxury goods, since China is the only country to have recorded growth this year.
But then how is it that the Chinese luxury market is experiencing the opposite phenomenon to the other luxury markets when it has been massively impacted by the crisis ? Its growth of 45% is firstly due to the fact that the country is the first to have known after its confinement an economic recovery generated by the rush of Chinese consumers in luxury boutiques.
Featured photo: © Gucci