When Alibaba first launched its luxury platform a short three years ago, top-tier brands still viewed e-commerce with caution. How times have changed.
Luxury players had historically been skeptical of the value of moving online and into digital shopping environments, concerned that doing so would lead to a loss of their brand equities and exclusivity. Now, though, the industry is accelerating its shift to digital, with some of the biggest names joining Alibaba Group’s Tmall Luxury Pavilion over the past three years.
The platform boasts nearly 200 leading luxury and designer brands – up from 150 before the Covid-19 outbreak – and expects to exceed 220 by year’s end. Balmain, Salvatore Ferragamo, Golden Goose, De Beers, Jaeger-LeCoultre and IWC Schaffhausen are among the names that have recently joined the platform.