In collaboration with Alibaba Group, Swiss luxury goods group Richemont has opened its flagship Net-A-Porter store on the Tmall Luxury Pavilion.
The move complements the global strategic partnership signed between Richemont and Alibaba last October to tap China’s online luxury market.
It also marks the beginning of operations of the FENG MAO joint venture signed between Yoox Net-A-Porter Group (YNAP) and Alibaba.
The aim of the JV is to introduce two mobile apps for YNAP’s Net-A-Porter and Mr Porter brands.
The YNAP store on Tmall will offer new season collections from both brands to online luxury consumers in China.
The store will feature a selection of more than 130 luxury, designer brands for women and men. The company will also offer exclusive capsule collections over the following months.
Brands available at the store include Brunello Cucinelli, The Row, Balmain, Isabel Marant, Jimmy Choo and Tom Ford, along with various Richemont Maisons such as Cartier, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin.
Richemont chief executive officer Jérôme Lambert said: “The unveiling of the Net-A-Porter flagship store on Tmall Luxury Pavilion is an important first step in the development of our long term partnership with Alibaba.
“Together, we seek to address the sophisticated needs of the Chinese luxury clientele and capture this unique growth opportunity. This partnership will set new standards for the future of luxury online.
“We look forward to sharing the success of the Net-A-Porter flagship store with more brand partners as the joint venture evolves.”
Alibaba is using its technology infrastructure, marketing and payment services to power the JV.
In addition, customers will have the option to use Alibaba’s mobile payment solution, Alipay, to complete transactions.