Alibaba signed an agreement with Richemont for the sale of luxury goods in China

The conglomerate of Swiss luxury brands Richemont has met the Chinese sales company Alibaba online and announced an agreement that will allow you to sell your high-end products to Asian customers.

This is an agreement that benefits both, as it will not only give greater scope to Swiss products, but it will give Alibaba's buyers the security of the quality of the other products on offer. . In addition, "the rich Chinese clientele will be offered the purchase via the Yoox-net-à-porter (YNAP) digital trading platform, a company in which Richemont holds 100% of the capital," they announced. in a statement. two companies.

Alibaba will therefore provide you with the technological structure and experience in marketing and logistics. "This partnership will provide Chinese consumers with access to the world's leading luxury brands," said Daniel Zhang, CEO of Alibaba Group.

Currently, the Richemont company includes major brands such as Cartier, Mont Blanc, Ralph Lauren and Peter Millar. and others, it posted a 22% increase in global sales for the last quarter, reaching $ 6.47 million, driven by the dynamism of Yoox-Net-a-Porter and Watchfinder, compared with $ 5.32 million in L & A. # 39; last year

According to Zhang, Chinese consumers are expected to account for nearly half of the global luxury market in 2025, which will allow this alliance to better position itself.

The company that distributes the 950 luxury brands in China, makes the decision to join at a crucial time because, due to trade tensions, customs authorities have imposed more controls and procedures on imports of goods. 39, high-end objects. This leads them to seek to reach consumers in their local market.

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