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China: hundreds of Bottega Veneta bags sold in seconds

E-commerce platforms in China, including Alibaba and Taobao, appear to be succeeding in their attempts to woo global luxury brands to their livestreaming events.

Livestreaming grew in popularity during lockdown and, even now that most physical stores have reopened, the momentum has continued. This has led to the creation of dedicated livestreaming events for luxury leathergoods and brands setting up cloud-based pop-up stores.

Alibaba has said that 80% of buyers of luxury goods in China are aged 35 and under and that people aged between 18 and 25 represent the fastest growing segment. It is precisely this group that tunes in most avidly to livestreamed shopping events.

Swiss high-end footwear and leathergoods brand Bally used its store in Hangzhou as a venue for its first livestreaming event, with chief executive, Nicolas Girotto, explaining to media in China that this helped to present the brand’s identity in a digital environment.

Mr Girotto said livestreaming was proving to be a valuable tool for Bally in the Chinese market. He said that, with the brand’s own teams on the ground working closely with creative local presenters, it presented a good opportunity to create “high-quality, localised content for China”.

Chinese media have also reported quick and impressive results for another high-end European brand, Bottega Veneta, after its bags were featured by top-tier presenter Li Jiaqi. Mr Li has tens of millions of followers on social media platforms and, on China’s Singles’ Day (November 11) last year, attracted an audience of more than 35 million people to a livestream event on Taobao, generating sales of $145 million.

At an event at the end of August during which Li Jiaqi devoted some of the time available to Bottega Veneta handbags, reports say the Italian brand sold 230 bags in less than a minute. And although the event included peripheral products such as branded umbrellas and canvas shopping bags as giveaways, the bags sold at full price.

Image: Bottega Veneta

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