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French fashion house Saint Laurent is launching online sales in China, a major step in the brand's efforts to expand in China's rapidly growing domestic market.
Saint Laurent Chief Executive Francesca Bellettini said the brand is teaming up with online fashion retailer Farfetch to sell over the internet in China. The brand will sell merchandise on a new online platform in a joint venture with JD.com, China's second-biggest e-commerce company.
The announcement marks a cautious foray into China's internet market by the France based fashion brand. Until relatively recently, luxury firms had been reluctant to sell over the internet in China because of concerns that China's main online retailers, JD.com and Alibaba, run marketplaces that are riddled with counterfeit goods. Only a few luxury brands have the size to attempt online sales in China without teaming up with either e-commerce giant.
Source: Market Watch