Louis Vuitton has launched an e-commerce service in China, seeking to capitalise on a rebound in the world’s largest luxury-goods market, where online sales have been dominated by local internet giants.
The site will let customers buy Louis Vuitton leather goods, shoes, accessories, watches, jewellery, luggage and perfume, the LVMH-owned brand said in a statement Friday. The site will cover 12 cities, including Beijing and Shanghai, with others to be added later.
China is driving a rebound in luxury sales after a multiyear downturn prompted by a crackdown on corruption, with LVMH, Hermes International, Kering SA and others reporting strong gains this year. Louis Vuitton began selling online in France in 2005 and has expanded to 11 countries, after the Chinese site went live Thursday.
E-commerce in China has been dominated by local operators such as Alibaba Group Holding Ltd. and JD.com Inc. Louis Vuitton said customers will be able to use Alibaba’s Alipay and Tencent Holdings Ltd’s WeChat online payment mechanisms on its site.
While China has fuelled the fashion industry’s growth and Chinese consumers have lined up outside Louis Vuitton stores around the world to buy the French brand’s suitcases and leather goods, online luxury sales in China have been slower to develop as brands seek to maintain exclusivity. Now competition is heating up, with JD.com in June buying a $397 million (Dh1.45 billion) stake in London-based online fashion retailer Farfetch and Gucci launching its own Chinese e-commerce site this month.
LVMH has been revamping its broader digital strategy, in May introducing a new multi-brand retail site called 24Sevres.com as it faces off with the likes of Yoox-Net-a-Porter and Farfetch.
* Bloomberg
5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
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Traits of Chinese zodiac animals
Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent
if you go
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
The biog
Age: 46
Number of Children: Four
Hobby: Reading history books
Loves: Sports
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