Covid-19 has accelerated the pace of digital transformation at Swiss luxury group Richemont, which is turning its focus towards creating new, sophisticated online shopping experiences for its customers.
China has become a showcase for the Geneva-based group’s online offerings. It is Richemont’s biggest and fastest-growing market. And for the overall luxury sector, China is expected to account for half of global sales by 2025.
Richemont, which owns Cartier, Montblanc, Chloé and Yoox Net-a-Porter, recently announced that it would explore opportunities to ramp up seamless, cutting-edge omnichannel experiences for high-end shoppers. Many of its businesses have also been the first to experiment with the newest digital engagement tools on Tmall Luxury Pavilion, Alibaba’s dedicated platform for high-end goods – from curated virtual trade shows and livestreaming to 3D and virtual reality-enabled technologies.