The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
PARIS, France — French fashion brand Louis Vuitton, part of luxury giant LVMH, has launched an e-commerce website in China to tap a booming online shopping market.
Louis Vuitton, which opened its first store in Beijing in 1992, says the website offers leather goods, small leather goods, shoes, accessories, watches and jewellery, luggage, and the newly launched Les Parfums Louis Vuitton.
Payments can be made via UnionPay, Alipay and WeChat, the statement said.
The website will be available in 12 cities — Beijing, Shanghai, ChongQing, Chengdu, Guangzhou, Shenzhen, Hangzhou, Nanjing, Shenyang, Dalian, Haerbin, Wuhan. More cities will be added later on.
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It is the 11th e-commerce market for Vuitton since it launched its first site in France in 2005.
By Dominique Vidalon; editor: Maya Nikolaeva.
With consumers tightening their belts in China, the battle between global fast fashion brands and local high street giants has intensified.
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
The French beauty giant’s two latest deals are part of a wider M&A push by global players to capture a larger slice of the China market, targeting buzzy high-end brands that offer products with distinctive Chinese elements.
Post-Covid spend by US tourists in Europe has surged past 2019 levels. Chinese travellers, by contrast, have largely favoured domestic and regional destinations like Hong Kong, Singapore and Japan.