British luxury retailer Net-a-Porter is teaming up with Chinese giant Alibaba to break into the Chinese market.
The deal will see a Net-a-Porter app and a Mr Porter app across China that will allow Chinese customers to access the luxury, in-season fashions.
Alibaba comes into this as it will provide the behind-the-scenes technology: infrastructure, marketing, payments, and logistics.
Federico Marchetti, CEO of YOOX NET-A-PORTER GROUP, said: “YOOX NET-A-PORTER has always built long-term relationships with its brand partners, protecting and nurturing the finest luxury names online.
“Together with Alibaba, we will offer our brand partners the same quality and reliability for the Chinese online market. Leveraging NET-A-PORTER and MR PORTER, luxury brands can access a neutral and powerful platform to maximize China’s immense potential.”
Net-a-Porter and Mr Porter will also be launched on Alibaba’s Tmall Luxury Pavilion, an online area dedicated to providing customers with the same shopping experiences they would receive offline.
Daniel Zhang, chief executive of Alibaba Group, said: “This multi-faceted partnership will bring Chinese consumers unprecedented access to the world’s leading luxury brands.
“Chinese consumers are expected to account for nearly half of the global luxury market by 2025, and through this partnership, Alibaba and YNAP will be even better positioned to capture this compelling market opportunity.”
The partnership will initially focus on Chinese customers and the Chinese market but this will eventually expand to Chinese customers who are travelling abroad.