“Luxury goods mega-brands have been adopting WeChat as an e-commerce platform,” wrote Luca Solca, luxury goods analyst of Exane BNP Paribas.
Before the launch of the WeChat store, Givenchy tested out sentiment in their consumer base through collaborations with the country’s top-tier fashion KOLs – gogoboi and Mr.Bags. The success of both collaborations have proved the brand’s popularity among Chinese shoppers, with all 80 pieces in the Mr.Bags collection reserved in 12 minutes and the entire collection on gogoboi’s WeChat store wiped out in 72 hours.
Just some time back, luxury brands were still cautious of venturing into e-commerce sales, fearing brand dilution. Now, brands are more eager to join the WeChat platform to harness its immense selling power. However, it will still remain a real challenge to strike a balance between online sales and luxury exclusivity, which we will have to observe and see how these digital efforts unfolds.