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Connexions – A Closer Look on “E-Retail: Luxury Gets Going… Finally!” by Patrice Nordey

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According to a study done by KPMG, 72% of Chinese tourists traveling abroad claim to have bought luxury goods. These purchases represent a significant proportion of their total expenditure (over 40%) with the most popular products of choice as cosmetics, watches and handbags. The prices of these products bought abroad are 20 to 30% cheaper than in China, and account for half of China’s luxury market today.

However, with the rapid development of online shopping in the Middle Kingdom (159 billion Euros at end 2012), we see pure Internet players taking advantage of this lucrative market in the recent years. Startups such as 5lux.com, Ihaveu.com, Shangpin or Xiu.com (87 million turnover in 2012) buy directly from distributors – rarely trademarks – and short all intermediaries to offer prices 20-50% lower than those charged by official channels shops.

Some of these actors, such as Secoo.com, even sell second hand luxury goods while ensuring the authenticity and condition of the product through strict certifications.

To counter these new discount models – which have tremendously opened consumers’ appetite for the “digital luxury” – premium and high end brands fuss to offer their online distribution model to recreate the conditions of an experience luxury with exclusivity, personalization and value-added services.

Upscale cosmetics brands were the first to launch, for example Lancome or the specialized retailer Sephora in 2006. Marni, Armani, Bally, Dolce & Gabbana, Alexander Wang and the Moncler brands have also launched in 2012 under the auspices of the Italian Yoox platform. More recently, Hugo Boss and Coach launched their e-commerce with a narrow range of products. Department stores such as Marks & Spencers and Lane Crawford also accelerated the development of their Internet offerings for their wealthy clients in China and Hong Kong.

Estimated at 11.1 billion RMB in 2011, the e-luxury market in China jumped by 71% in 2012 with 18.9 billion RMB of online spending. It is expected to exceed 45 billion RMB by 2015 according to iResearch and thus, capturing 10% of the first luxury market in the world.

Shanghai Fashion Web – Event Overview [Part 2/2]

On September 13th 2013, the first edition of Shanghai Fashion Web was held. The Shanghai Fashion Web is an event showcasing cutting edge topics related to the fashion and luxury industry as well as today’s digital environment.

6:30PM – Break & Lucky Draw

Lucky Draw MaryH

Following the break shortly, we held a lucky draw and we would like to personally thank MaryH for her beautiful leather handmade wallets as prizes. The lucky winners of the draw were Dominique Simard (Director of Fashion Education at Conde Nast), Rodolph Garnier (China Global Sourcing Director at Camaieu) and one of our speakers, Svante Jerling (Founding Member and VP of P1.cn)!

Alexis Bonhomme, General Manager of Curiosity China

WeChat presentation

Alexis Bonhomme navigated us through the new WeChat App 5.0 Version, showcasing powerful new tools that are beneficial to both businesses and consumers. Everybody upgrade to 5.0 now! See the article to know more about the new WeChat 5.0 features.

Michael Shi – Founder & CEO of Hairbobo

HairBobo

Michael Shi is the founder and CEO of Hairbobo, the B2B community website bringing hairdressers and stylists together to share tips and the latest trends in hair and fashion. He also introduced their new app for consumers, which features an online booking function to book for hair appointments with hairdressers and stylists.

Svante Jerling, Founding member of P1.cn

P1.cn Svante Jerling

Svante Jerling unveiled the exclusive activities behind P1, its new projects, as well as its luxury members. P1 is a platform that showcases the latest street styles of fashionistas in China.

Mimi Vong – Country Manager from YOOX Group

Yoox Group Presentation by Mimi Vong

Mimi Vong presented the different consumer profiles YOOX has in Asia and the strategies that made YOOX so powerful today. Yoox is diversified in its profile: yoox.com, thecorner.com, and shoescribe.com. In China, it has launched an exciting collaboration with the Super Boy contest 2013, a famous singing competition in China. During the talk, Mimi offered some valuable advice for brands including their product selection and a focus on younger generation consumers.

After…

Following the panel sessions, it was networking and fun time! We loved the French fusion finger food, Polaroid photos, and creative dance by Nunu that filled the night. The event was a big success and Velvet would like to give a big thanks to our active participants, speakers, and entertainers that made this a night to remember.

And also, thank you to our guest for your perfect conclusion:

“We are very glad to have participated in this year’s SFW. Thanks for your teams professional arrangement and great hospitality! We liked the topics. So many new ideas bring E-commerce a bright future.”

Tommy Qiu, Marketing Executive at Lane Crawford

– See more pictures of the event here!