In “Headlines from China,” we share the biggest news stories about the luxury industry in China that have yet to make it into the English language. In this week’s edition, we discuss:
- 80% of Department Stores and Supermarkets in China’s First-Tier Cities Reopen
- Luxury Resale Livestream Platform Feiyu Completes Series-A Funding
- Delvaux Picks JD.com As First E-Commerce Partner in China
80% of Department Stores and Supermarkets in China’s First-Tier Cities Reopen — Shanghai Securities News
Department stores and supermarkets in first-tier and new first-tier cities are going back into operation, with 80% of those in Shanghai, Beijing, Guangzhou, Chengdu, and Shenyang fully back in business. Consumption needs are increasing after the month-long lockdown in China, due to business closures amid the Covid-19 epidemic, according to Baidu search statistics. Over the last week, relevant information on the Chinese search engine about “return to work” rose by 678%.
Luxury Resale Livestream Platform Feiyu Completes Series-A Funding — 36Kr
Do luxury and livestream go together? China’s luxury resale platform Feiyu (妃鱼) shows that this untapped field has potential. It recently completed a Series-A round of funding, led by the venture capital firm N5Capital and the private equity firm Matrix Partners China, with an undisclosed amount. Founded in 2016, Feiyu started with a focus on the “Daigou (代购)” model, which was supported by livestreaming hosts and local teams based in Europe. But the problem — as Feiyu’s Founder Huang Shichang realized two years later — was that the start-up didn’t have ownership of its own supply chain. The company pivoted to a luxury resale platform as a result and has now partnered up with both brick-and-mortar luxury resale stores and individual sellers in China.
Delvaux Picks JD.com As First E-Commerce Partner in China — Beijing Business Today
From March 5 onwards, Chinese shoppers can find Delvaux on JD’s luxury platform, with purchased items being delivered via JD’s white-glove delivery service, JD Luxury Express. It’s the first time for the Belgium luxury brand to work with any e-commerce platform in China, Beijing Business Today said. The brand sees this as an opportunity to open up China’s e-commerce channel.
“JD is unique in offering both a guarantee of authenticity and a commitment to premium service, and we look forward to consolidating this partnership as we open ourselves to the opportunities of e-commerce in China,” Delvaux CEO Marco Probst said in a statement. The Belgium brand officially marched into China’s market in 2011, the online publication said, when Hong Kong-based First Heritage Brands and Singapore’s Temasek became its investors. Since launching its luxury platform in 2017, JD has established partnerships with over 200 international luxury brands including Prada and Mulberry.