Australian online luxury retailer Cettire says it will enter into the Chinese e-commerce market, in a partnership with JD.
JD has more than 550 million active customers in China and it is one of the largest online retail platforms for Chinese consumers. Mainland China is expected to account for 25 per cent of the global personal luxury goods market by 2025.
In a statement, Cettire sid that by the second half of this calendar year, the partnership will allow Cettire to distribute its extensive high-end luxury collections to Chinese consumers with the help of local logistics offered by JD. The website will also assist in driving traffic, and creating brand awareness for Cettire upon market entry.
Cettire’s founder and CEO, Dean Mintz described the company’s entry into China as a ‘significant milestone’ towards its goal of being world’s largest luxury retail destination. “China represents a vast opportunity and it is core to our strategy to make our world-class proposition available to additional markets,” he said.
“The partnership (with JD) represents the first step in our China market entry and provides an opportunity to test and learn the market with the support of an exceptional partner with a significant market presence.”
As part of the expansion, Cettire late last year invested in hiring senior technology and engineering talent in China to create features and services specific to the Chinese market. There are also plans to launch a Chinese-language website in existing markets.