Yves Saint-Laurent conquers China
The Yves Saint-Laurent brand has never had such good days on the Chinese market. A few months ago, the brand was marketed on JD’s Toplife platform. Com. This e-commerce strategy has allowed the brand to reach more consumers. Also, the new YSL beauty store in Guangzhou is a great example of how high-end beauty technology can empower brands to interact with today’s buyers.
I) Yves Saint-Laurent and e-commerce
Saint Laurent, owned by the Kering Group, signed a partnership with Chinese e-commerce giant JD.com a few months ago. Com, at a time when online sales in China is becoming a major issue for luxury brands.
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A) YSL marketed on Toplife
Saint Laurent, which became Kering’s second brand behind Gucci and ahead of Bottega Veneta, was marketed on Toplife, JD’s platform. Com dedicated to luxury goods.
It was launched in October 2017 and offers its customers high-end services including the possibility of being delivered within the day.
Toplife competes with Luxury Pavilion, another luxury platform opened earlier by Alibaba, China’s number one e-commerce company.
It claims, on its website, the sale of Burberry or Hugo Boss products.
B) E-commerce, an indispensable
The rise of e-commerce is a major contributor to the rebound in the luxury sector, which has been late but largely converted to e-commerce.
The sector is also benefiting from the rebound in demand in China, driven by renewed consumer confidence, smaller price differentials with Europe, and taxes to combat the parallel market for digressing, those buyers who resell cheaper than in China, genuine products purchased in Europe.
II) The world’s largest flagship YSL Beauty store
French luxury beauty brand YSL opens its world’s largest flagship store in Guangzhou, China.
The new retail space is an excellent example of how high-end beauty technology can enable brands to better interact with buyers (who now live in a fully digitalized era).
The store introduces several interactive activities that aim not only to sell products but also to educate consumers about the rich history of the brand. Inside the store, YSL has installed an Instagrammable wall “LOVE” so visitors can take pictures with it as well as the very first YSL “unmanned” lipstick machine in China.
III) A rise in brand power
According to KPMG forecasts, half of all luxury purchases in China will be online by 2020. Louis Vuitton, owned by LVMH and Gucci (Kering); The world’s top two luxury brands; opened their sites in China last summer. With an annual average growth of 27% over the past six years, Saint Laurent saw its sales reach the one billion euro mark in 2016; $1.2 billion.
Conclusion:
According to its leader, the brand still has very strong growth potential, thanks to the planned expansion of its store network, the development of new product categories, and e-commerce.
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