Several Big Platforms Will Be Arranged In China.

In the past, talking about luxuries is a far fetched concept for many people.

But with the growth of China's economy and national income, the purchasing power and consumption concept of Chinese consumers are undergoing major changes, and the Chinese luxury market has come to an explosive moment.

What is the luxury industry that is not so hot?

The first Chinese stock market of luxury electric business in China has released its first quarter earnings in 2018. As of March 31st, the total net revenue of temple library was 802 million 500 thousand yuan, an increase of 42.8% over the same period last year. Net profit was 25 million 900 thousand yuan, an increase of 10.2% over the same period last year.

According to statistics, the temple library has more than 15 million high-end registered members, and has three core plates: Temple library business, temple treasury finance and temple library intelligence.

Vip.com, the third largest luxury fashion business platform in China, has announced that it will introduce the United States this year.

Cosmetics and furniture brands to meet the needs of nearly 300 million female users.

According to vip.com, its sales of us brand products will increase two times to 6 billion US dollars in 2020.

Cooperation with vip.com has been reached.

Brands include Dolce&Gabbana, Higo Boss, Tory Burch, Rebecca Minkoff, Converse and Nike.

As the volume of China's luxury consumer market is increasing and consumers' shopping behavior is gradually tilting towards the digital mobile terminal, luxury brands are seeking the right channel to communicate with Chinese consumers, while Tmall and Jingdong platforms are competing to invite luxury brands to enter.

As early as last June, Jingdong invested $400 million in the global luxury fashion shopping platform Farfetch, which officially extended its tentacles to luxury items.

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In October, Jingdong officially launched the Toplife luxury flagship store shopping platform, and customized the online official flagship store for each of the brands to be settled. It created an independent display space for the brand and helped the brand display a more deep and personalized image.

In January of this year, the world's second largest luxury group, Saint Laurent, a luxury luxury brand in France, announced its entry into the Toplife of China's e-commerce giant Jingdong's luxury business platform. After entering Saint Laurent, consumers from Beijing, Shanghai, Guangzhou and Shenzhen will enjoy Jingdong's white glove personal delivery service.

Liu Qiangdong said that the accession of Saint Laurent will help Toplife better exert its efforts in the field of luxury electric business, and accelerate the realization of Toplife as the target of Chinese consumers' luxury shopping platform.

In addition to Saint Laurent, the luxury brands that are now in Toplife are Alexander McQueen, Saint Laurent and Pomellato of Kai Yun group.

Brand ESCADA and SWAROVSKI.

Jingdong has been implementing its fashion ambitions in its own unique way in recent years. From the electricity supplier at the sales side to the four fashion week and media activities that represent the fashion discourse power, and then to the joint designer support platform, many paths of Jingdong fashion are attacking at the same time. Jingdong has become a bridge connecting overseas goods with Chinese consumers.

Alibaba is also particularly active in the layout of the luxury sector. In addition to the five parts of the LVMH group, including the fashion leather products, the relationship with the Gucci parent company Kai Yun group is slowly easing, and the built-in luxury platform Luxury Pavilion and the flash shop Space Tmall are being launched.

In September 2016, LVMH announced a strategic partnership with Alibaba, bringing its luxury brand Guerlain GUERLAIN, Make Up For Ever and Tmall to Tmall.

In August 2017, for the first time in history, LVMH's core handbag brand LOEWE was first sold online on Tmall.

In December 16, 2017, Stella McCartney announced its cooperation with Alibaba's Tmall mall to launch a flash store on Tmall luxury platform Tmall Space.

The flash shop has a month long line of goods, including falabella black chain handbags and other items that can not be bought on Chinese mainland stores, which offer Tmall luxury consumers limited time honored, while giving super members "super" benefits.

In addition, Italy luxury brand Marni also joined, which means that Tmall has basically completed the attraction of Italy luxury brands after the five largest LVMH group.

It is understood that Luxury Pavilion has opened close cooperation with the world's 9 largest luxury brands, such as LVMH, Estee Lauder group, Swatch group, L'OREAL group and PVH group.

Including Burberry, Baccarat, Bonpoint, Givenchy, Guerlain, Hugo Boss, Hennessy and so on, 50 global luxury goods brands have been settled, covering heavy luxury to light luxury, across clothing, leather goods, beauty makeup and watches and so on.

So what is the development trend of luxury goods industry?

According to German media statistics, the total sales volume of the global luxury goods industry increased by 5% to 1 trillion and 200 billion euros last year, a record of the past, of which 1/3 came from the contribution of Chinese consumers, with sales in mainland China surging 15% to 20 billion euros.

Data also show that in 2017, sales of luxury electric business accounted for 1/3 of total sales.

According to the bain consultancy report, luxury goods sales in China reached 142 billion yuan in 2017, or about $22 billion 70 million, up 20% from 2016.

In order to further cultivate the Chinese market, luxury brands should not stay in only the first tier cities. The channel of e-commerce will help them better develop the two or three line cities with greater consumption potential.

Moreover, no matter how fierce the competition is, there are signs that online sales of luxury brands have become the main driving force for the growth of brands.