Around 20 luxury brands have opened stores on Chinese e-commerce platform JD since the beginning of January, seeking new avenues for business against the backdrop of the global coronavirus pandemic.
The onboarded brands include fine-leather goods house Delvaux, Chanel-owned jewellery brand Goossens, luxury cashmere specialist Barrie, British luxury leather brand Smythson, cashmere knitwear brand Pringle of Scotland, and international designer brands MSGM and Proenza Schouler.
When Italian designer brand By Far launched its flagship on JD recently, 65 per cent of its stock sold out after four days and about 90 per cent of its products cleared after one month, according to figures released by JD.
“The pandemic has affected many industries, and luxury is no exception. It has encouraged many luxury brands to attach greater importance to online,” said JD fashion-and-lifestyle president of international business Kevin Jiang.
“JD’s supply chain advantages, and the support we provide, have attracted brands to deepen their partnerships with us. In the coming months, we plan to offer more innovative programs to help brands deal with the impact of the pandemic.”
To date, more than 200 international luxury brands have established partnerships with JD.