MILAN: Fashion label Gucci will open two flagship stores on Alibaba’s online luxury shopping platform, underscoring the importance of the Chinese market for high-end brands seeking to reverse a revenue slide due to the coronavirus pandemic. Gucci, the profit engine of French group Kering, is one of the most prized names to join the Tmall Luxury Pavilion platform, which was created in 2017 and now boasts more than 200 brands ranging from apparel to high-end cars.
Gucci’s first flagship store, selling fashion and leather goods collections, will open on December 21, the two companies said in a joint statement on Friday. A second store focused on beauty products will launch in February 2021 and will be operated by Gucci’s licence partner Coty. China — where consumers shop far more by mobile phone apps than in the United States or Europe — has been a rare bright spot for luxury goods brands this year, with sales surging there since lockdown measures began to ease in the spring. — Reuters
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