China’s Suning.com Expands Into Online Luxury Retail
LONDON — Suning.com, the second-largest retailer with 1,600 stores in more than 600 cities across China, announced on Thursday that it’s entering the e-luxury business with its inaugural “Luxury Festival.”
As a warm-up to the “818 shopping festival,” one of many shopping events inspired by Alibaba’s Singles’ Day success, the retailer is hoping by giving out coupons and slashing prices, it can attract luxury shoppers to buy Prada and Gucci handbags, Armani watches and La Mer facial cream from a platform that’s known for selling home appliances and smartphones.
More from WWD
The retailer said luxury items featured on the shopping event will come with certificates to prove their authenticity.
Suning.com invited actress Jiang Shuying, who played a lead role in the popular TV series “Nothing But Thrity,” to host a livestreaming session on Tuesday to kickstart the retailer’s luxury ambition.
With a market capitalization of $102.5 billion, Suning.com is also the fourth largest e-commerce player in China, trailing Alibaba, JD.com and Pinduoduo.
Both Alibaba’s Tmall and JD.com have been fighting aggressively to woo luxury brands to sell on their platforms in recent years, while Pinduoduo focuses on penetrating lower-tier markets.
Related Articles:
JD.com Touts Luxury Strategy Ahead of 618 Shopping Festival
Alibaba’s Tmall Unveils Outlet Business Luxury Soho
How Should Fashion Entrants to China Approach COVID-19 Rebound?
