Alibaba has launched a new discount luxury fashion platform aimed at attracting younger shoppers and those new to luxury purchasing.
“Luxury Soho” has launched on Alibaba’s Tmall platform with the aim of introducing Gen Z and millennial shoppers to luxury brands by offering a more accessibly price point.
Participating brands can now move products and collections from their existing platforms on Tmall’s Luxury Pavillion to the new outlet section, while tracking sales statistics and consumer insights.
Luxury Soho is also “a response to the need in the fashion industry for brands to be able to efficiently manage their inventory and stock – an issue that’s been compounded by the Covid-19 outbreak,” Tmall Europe’s head of fashion and luxury Christina Fontana said.
“Restricted movements led to reduced foot traffic in brick-and-mortar stores – including from Chinese tourists who were not able to travel to brands’ boutiques and outlets in Western countries like they used to. So brands are now sitting on a worldwide abundance of stock and are also needing to find ways to reach new consumers.
“With Luxury Soho, brands can now move select products and collections onto an online outlet store and bring them in front of a specific audience that is waiting to discover new products and brands.”