Yoox-Net-A-Porter and Alibaba enter joint venture Feng Mao
Net-A-Porter is set to open a flagship store on Alibaba’s Tmall Luxury Pavilion marking the “important first step in the development of our long term partnership”.
Yoox-Net-A-Porter Group’s owner and luxury retail giant Richemont has today entered into a new joint venture with the Chinese ecommerce giant, dubbed Feng Mao.
As part of the new joint venture Net-A-Porter will launch a new ecommerce store on Alibaba’s exclusive platform dedicated to luxury brands, Tmall Luxury Pavilion, including a “grand launch campaign” in the second week of October.
Its flagship store will bring the latest collections from Net-A-Porter and Mr Porter to Chinese customers, including more than 130 luxury brands at launch.
“Together, we seek to address the sophisticated needs of the Chinese luxury clientele and capture this unique growth opportunity,” Richemont’s chief executive Jérôme Lambert said.
“This partnership will set new standards for the future of luxury online. We look forward to sharing the success of the Net-A-Poter flagship store with more brand partners as the joint venture evolves.”
Tmall’s president Jiang Fan added: “This partnership between Alibaba and Yoox-Net-A-Porter is bringing Chinese consumers unprecedented access to the world’s leading luxury brands.
“Together, we will deliver an elevated, seamless, and rich luxury experience for Chinese consumers. We are confident this flagship store opening is just the beginning of a long-term partnership that will benefit China’s luxury consumers and the world’s luxury brands who want to reach them.”