Alibaba Group’s cross-border business-to-consumer marketplace Tmall Global has increased its support for international brands, unveiling a new suite of solutions at the 2021 Tmall Global New Seller Virtual Summit.
Fashion label Gucci will open two flagship stores on Alibaba's online luxury shopping platform, underscoring the importance of the Chinese market for high-end brands seeking to reverse a revenue slide due to Covid-19.
This year has increased the importance of Chinese consumers to the luxury sector as the overall market has shrunk while China’s purchases have surged. And there's more to come in the next few years too.
China's radiant male skincare market has a raft of domestic startups tapping global investors for funds, with ambitions to rival giants like L'Oreal in a billion-dollar business serving image-conscious millennial men.