Luxury labels ditch steep China discounts to rebuild brand value
Global luxury houses are pivoting from chasing sales volume to cultivating exclusivity, with some eliminating discounts entirely on China's biggest e-commerce platform.
A rendering of the Tmall Luxury Pavilion, Alibaba’s high-end e-commerce channel. As luxury demand softens in China, brands like Balenciaga, Versace, and Valentino are shifting away from deep discounts on the platform to reinforce premium positioning and appeal to high-net-worth consumers. Image: Tmall
A rendering of the Tmall Luxury Pavilion, Alibaba’s high-end e-commerce channel. As luxury demand softens in China, brands like Balenciaga, Versace, and Valentino are shifting away from deep discounts on the platform to reinforce premium positioning and appeal to high-net-worth consumers. Image: Tmall
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