Free Subscription

  • Access 15 free news articles each month


Try one month for $4
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • 10% discount on events

Chinese luxury demand holds up

Online luxury fashion retailer brushes aside Hong Kong’s luxury retail downturn, saying mainland Chinese customers are still spending up – but online.
“While Luxury sales are decreasing in Hong Kong, keeps growing fast because it enables Chinese consumers to buy premium brand products without travelling,” the company said in a statement confirming a US$30 million capital injection from private equity last month.
In January, sales of jewellery, watches, and valuable gifts decreased 21.4 per cent in Hong Kong. But says Chinese luxury demand is holding up.
Despite Chinese consumers’ historic tendency to shop for luxury goods when they travel abroad, says they are now showing more willingness to purchase luxury goods online.
More than 600 overseas companies, including Salvatore Ferragamo, Blue Nile, and Hugo Boss, are partnering with, and nearly 200 of them sell exclusively on to Chinese online shoppers.
More than 10 million consumers have registered with and more than 85 per cent of orders come from repeated buyers. The average order value is US$240. says it will use its fresh $30 million capital injection to connect more western brands with online shoppers in China.
Launched in 2008, sells international branded fashion products, including clothing, cosmetics, bags, jewellery, shoes and homewares.
“As an online-fashion leading company, operates advanced logistic networks that cover Europe and the US,” said Ji Wenhong, founder and CEO.
“Working directly with established international companies, could offer a variety of International brand products and offer Chinese consumers in-season fashion products with lower price than those in other markets.”
“We are very confident in after we studied the Chinese eCommerce market for a long time,” said Tan Changwen, a partner in PVP.
“We will support’s strategic development, especially in increasing its efforts of mobile e-commerce and expansions in Asia markets.” will use the funds to consolidate its international supply chain network and to invest into the project of connecting offline stores in western countries with online shoppers.
“We help stores in western countries sell their inventories on,” Ji said. “We could increase our product offerings rapidly, while consumers could benefit from more selections for new-arrival products.”
The Shenzhen based company also plans to use the funds to prepare its forthcoming IPO.

You have 7 free articles.

Masterclasses are only for Professional Subscribers

Become a Professional for only $4 Already member? Login
  • Unlimited access to news,insights and opinions
  • Quarterly and weekely magazines
  • Independent research reports and forecasts
  • Quarterly webniars with industry experts
  • Q&A with retail leaders
  • Carrer advice
  • Exclusive masterclass access.Part of Retail Week 2021
× n-popup