Alibaba and the world's largest luxury goods supplier YNAP set up a joint venture

Alibaba and the world's largest luxury goods supplier YNAP set up a joint venture

Sina Technologies News October 26 afternoon, Alibaba announced today, and Lifeng Group's luxury goods business Yoox Net-A-Porter (YNAP) to establish a joint venture. Alibaba will provide technical, payment, logistics and other basic support and data selection, consumer insight and other services and assistance to the joint venture.

According to the data, YNAP includes nearly 1000 luxury brands, designer brands and cosmetics brands. YNAP sells both Net-A-Porter and Mer Porter for the season, as well as YOOX and THE OUTNET. It also provides e-commerce operations for luxury brands.

The joint venture will serve women and men in the Chinese market through Net-A-Porter and MR Porter, respectively. At the same time, the two brands will also enter Tmall luxury luxury platform.

Alibaba CEO Zhang Yong said the partnership between Alibaba and Lifeng Group will bring the world's top luxury brands to Chinese consumers. Consumers are pursuing a consumer upgrade, and we expect this to meet the consumer demand of 600 million active Alibaba retail users, hoping to bring the best online and offline experience for consumers through Tianmao New Retail.

Johann Rupert, chairman of Lifeng Group's board, said the strategic cooperation between Lifeng Group and Alibaba Group will write a new chapter for Lifeng. The first step is to introduce Net-A-Porter and Mr Porter to more Chinese consumers through our cooperation. We will create a new history together. This is also a milestone in the luxury industry.

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