Alibaba And Yoox Net-A-Porter, The World'S Largest Luxury Goods Supplier, Set Up A Joint Venture.

In October 26th, Alibaba group announced the establishment of a joint venture with Yoox Net-A-Porter (hereinafter referred to as YNAP) of the luxury group's YNAP Net-A-Porter. The Net-A-Porter platform and Mr Porter, which sell the products of the season, will be located in the Pavilion luxury Luxury platform Pavilion. The Alibaba group will provide technical support, data services, logistics and other services and help for the joint venture company.

YNAP group's e-commerce platform Net-A-Porter and Mr Porter will be settled in Tmall Luxury Pavilion, respectively.

For women and male consumers, Alibaba provides joint ventures with basic services, such as technology, payment, logistics, data services and consumer insights.

Currently, about 950 high-end fashion brands are sold on the Yoox Net-A-Porter group's e-commerce platform, and Yoox Net-A-Porter has a Chinese website.

Net-A-Porter was founded in 2000 by British Fashion Editor Natalie Massenet and was purchased by the group in 2010 and valued at about 350 million pounds.

In 2015, the peak group divested its British luxury electric business Net-A-Porter, through the way of stock exchange, and Italy.

Merged with luxury electric business Yoox, renamed Yoox Net-A-Porter.

In recent years, YNAP has developed into the largest in the world.

One of.

According to its monthly sales report in early January 2018, compared with 1 billion 870 million euros in 2016, revenue rose by 11.8% in 2017 to 2 billion 100 million euros, and organic sales increased 16.9%.

In January of this year, the group launched its 100% holding. YNAP group will be privatized, but will continue to operate independently, instead of joining the group.

For the joint venture with Alibaba, Johann Rupert, chairman of the group, said: "the importance of Chinese consumers both at home and abroad is becoming more and more prominent for the group and the luxury industry. Our digitalization in China is still in its infancy, and we believe that cooperation with Alibaba can make it become an important and sustainable member of the market."

YNAP group CEO Federico Marchetti believes that the future luxury brands can further tap the potential in the Chinese market through Net-A-Porter and Mr Porter.

Alibaba group CEO Zhang Yong said that by 2025, Chinese consumers will account for nearly half of the global luxury market. Through this cooperation, Alibaba and YNAP will be more able to seize this attractive market opportunity.

"We believe that this announcement is only the beginning of long-term partnership and will continue to explore more opportunities for cooperation in the future."

This is already this year.

The second time and

Cooperation, in May this year, the Alibaba invested in the French luxury jewelry business Ordre.

Prior to that, Alibaba group

The continuous action has been dominated by Luxury Pavilion, which was launched in 2017.

In April this year, Tmall announced at the Luxury Pavilion brand press conference that it plans to build a communication bridge between luxury brands and post-90s and 00 new generation consumers in three years to serve 100 million new middle class.