Tapestry seeks to drive growth in China with new Tmall partnership
today Sep 12, 2019
Tapestry, Inc. announced on Thursday that it has begun a new strategic partnership with Alibaba’s Tmall. The new collaboration will see Tapestry’s Coach, Kate Spade and Stuart Weitzman brands open digital flagships on the Tmall Luxury Pavilion, Alibaba’s dedicated platform for luxury brands in China.
Later this month, Tapestry will be one of the first companies to adopt Tmall’s new Flagship Store 2.0, an upgraded platform that will allow the NYC-based fashion group to create an elevated, customized shopping experience for its e-commerce customers in China, while also gaining valuable data-driven insights on the local market.
The Coach, Kate Spade and Stuart Weitzman flagships will feature Tmall-exclusive products and present consumers with personalized content based on their preferences.
The first step in Tapestry’s “China Next” digital innovation agenda, the new partnership with Tmall is intended to support the company’s efforts in two of its major areas of focus: driving digital innovation and growing its business in China.
According to Tapestry, China currently accounts for less than 20% of its total global revenues, with e-commerce, in particular, offering a significant growth opportunity on the market.
“Tapestry is committed to the Chinese market,” said Tapestry’s Chairman and newly appointed CEO Jide Zeitlin in a release. “We have a leadership position in China and all of our brands have tremendous opportunity for further growth. Given Tapestry’s focus on customer experience, creating innovative strategic partnerships with leaders such as Tmall helps us to connect our unique lifestyle brands with the important fashion and digitally savvy Chinese consumer.”
The partnership between Tapestry and Alibaba will also involve the reinforcement of the two companies’ collaboration on intellectual property rights protection, an issue of particular concern for many luxury brands hoping to make headway on the Chinese market.
Tapestry’s Coach brand is already a member of the Alibaba Anti-Counterfeiting Alliance and uses the platform’s tools and technology to protect its brand in the country.
“Coach has been in China for over 20 years and has been an early digital pioneer,” added Tapestry Chief Digital Officer Noam Paransky. “We are committed to offering a compelling experience for Chinese consumers wherever they choose to shop: our stores, direct brand and third party websites or social platforms.”
China’s largest B2C e-commerce platform, Tmall boasts an active user base of over 750 million and serves as an important sales channel for Western brands looking to get a piece of the country’s fast-growing fashion and luxury markets.
Launched in 2017, the Tmall Luxury Pavilion currently hosts flagships from brands including Michael Kors, Versace, Valentino, Burberry, Moschino, Givenchy, Stella McCartney and Chanel, among others.
Copyright © 2020 FashionNetwork.com All rights reserved.