Monday, 2024 March 4

CHINA BRIEF | Luxury products see brisk sales on during COVID-19 pandemic

Around 20 luxury brands that began listing their products on since January have logged strong sales on the platform, said on Friday.

Just four days after Italian designer brand By Far began operating a sales portal on, 65% of its listed merchandise was sold. By the end of its first month on the site, 90% of its stock was gone, said in a newsletter sent to media outlets.

The e-commerce giant did not reveal sales figures for other newcomers, which include Delvaux, the world’s oldest leather goods house; Chanel-owned jewelry brand Goossens; and British luxury leather brand Smythson.

Booming sales numbers on come as many Chinese consumers of luxury goods are turning to purchasing channels within the country. Travel restrictions due to the COVID-19 pandemic have halted international travel, and many of these brands have shuttered brick-and-mortar stores, said the company.

Before the viral outbreak, 70% of luxury good purchases made by Chinese consumers occurred outside of China, said, citing Bain & Company’s 2019 report, “What’s Powering China’s Market for Luxury Goods?

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.

Jingli Song
Jingli Song
I believe Chinese innovation at various level needs to be known by the world.

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