Swiss luxury group Richemont has announced a joint venture with Chinese ecommerce giant Alibaba to boost its online presence in China.
The partnership will see Net-a-Porter and Mr Porter online stores launched on Alibaba’s Tmall Luxury Pavilion, which is designed to extend the experience of offline luxury to ecommerce.
“Our digital offering in China is in its infancy and we believe that partnering with Alibaba will enable us to become a significant and sustainable online player in this market,” Johann Rupert, Richemont chairman said.
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