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What is the future of Richemont, Kering and Lvmh´s online-offline strategies in China?
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Despite the notion of luxury brands retailing online is regarded in contempt, COVID-19 disrupted and induced the luxury industry to transform digitally mainly in China. This paper studies the current and future strategies of Chinese technology behemoths, Alibaba and Tencent, including major luxury conglomerates, Richemont, Kering and LVMH’s omnichannel approaches in China through data obtained from business literature and other sources. The analysis discovered three distinct religions from the luxury groups. ‘New retail’ concept is gaining moment um rapidly in China and the luxury sector might witness more meaningful opportunities for consolidation in the foreseeable future whilst maintaining exclusivity.
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China Luxury Covid-19 E-commerce Strategy Omnichannel