Richemont owned Yoox Net-A-Porter has established a partnership with Alibaba to launch two mobile apps for its Net-A-Porter and Mr Porter brands for consumers in the Chinese market. This will see the opening of two stores on Alibaba’s Tmall Luxury Pavilion in order to develop deeper penetration of the Chinese market. “Our digital offering in China is in its infancy and we believe that partnering with Alibaba will enable us to become a significant and sustainable online player in this market,” commented Johann Rupert, chairman Richemont., adding, “Alibaba has become the preferred online destination in China, with world-lass teams in technology, logistics and marketing.”
Alibaba CEO Daniel Zhang said: “Chinese consumers are expected to account for nearly half of the global luxury market by 2025, and through this partnership, Alibaba and YNAP will be even better positioned to capture this compelling market opportunity. As Chinese consumers continue to upgrade their lifestyles, we want to meet the desires of Alibaba’s more than 600 million users.”
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