Bulgari launches innovative flagship store on Tmall Luxury Pavilion
Italian jeweller Bulgari has launched an innovative online shopping experience in partnership with Chinese retail giant Tmall Luxury Pavilion.
By Eva Morletto19 avril 2022
The customer experience will be fully immersive and virtual exhibitions of fine jewellery will be live-streamed to showcase the pieces on sale. The alliance with TMall is primarily aimed at perfecting the brand's digital strategy by exploiting its full potential.
Just two or three years ago, luxury brands were wary of the Chinese giant Tmall Luxury Pavilion, the virtual luxury storefront owned by the Alibaba empire, founded by the powerful Huangzhou entrepreneur Jack Ma. The brands preferred to avoid Tmall in their marketing strategy, for fear of damaging their credibility and exclusive image. Opinions have since changed radically. There are now more than 220 brands that have joined the Chinese portal. From Jaeger-LeCoultre to Salvatore Ferragamo, from De Beers to Balmain, from Burberry to Givenchy, the Luxury Pavilion is now considered by international luxury houses as an effective way to refresh their image through innovative and sophisticated digital strategies.
While the Middle Kingdom is the second largest luxury buyer in the world with around 30% of the market share, its expansion will continue. The commercial power of the portal can be seen in initiatives such as Single Day, where some brands can achieve the equivalent of several months' sales in shops in a matter of hours. The number of consumers using Tmall each year is now estimated at 760 million, a huge pool of customers that is attracting the attention of the major brands.
The first luxury brands to approach the Chinese portal were beauty brands, followed by leather goods, menswear and watches. One third of users are under 30 years old. The so-called GenZ alone generates 45% of sales. The Chinese giant continues to focus on this clientele by boosting the link between young consumers and the world of luxury. For TMall, this is even a priority objective.
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Harris Reed wants to introduce new emerging talents into fashion
In partnership with Klarna, the young fashion designer launched an international competition that will showcase new emerging talent in the field of inclusive and eco-friendly fashion.
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Fashion house Balenciaga has been named by Time magazine among the world’s leading companies.
The famous British media Time has selected the most powerful companies in five categories: titans, leaders, innovators, pioneers and disruptors. Unsurprisingly, all the GAFAs are at the top of the list, as well as tech giants like Sony. It is therefore a surprise to see in this ranking the fashion house Balenciaga, defined as the symbol of French luxury.
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