“Our entry into China is a significant milestone towards our goal of being the world’s largest destination. China represents a vast market opportunity, and it is core to our strategy to make our world-class proposition available to additional markets. Today’s announcement is another step in our strategic journey to achieve this goal,” said Cettire’s founder and chief executive officer (CEO), Dean Mintz, in a press release.
“We are delighted to be announcing this partnership with JD.com. The partnership represents the first step in our China market entry and provides an opportunity to test and learn the market with the support of an exceptional partner with significant market presence,” Mintz added.
China is expected to be known as the world’s largest market for personal luxury goods by 2025, representing around 25 per cent of a A$600 billion global market, according to the release.
JD.com has more than 500 million active customers, and through the Cettire-JD.com partnership, Chinese consumers will gain access to Cettire’s extensive luxury selection, post-sale support and logistic local logistic capability, the release added.
ALCHEMPro News Desk (SF)
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