Aug 08, 2016

    $5,660 Dior bag a sell-out on WeChat


    FRANCE'S Christian Dior has become the first luxury brand to sell top-end bags on WeChat, the most popular messaging and social network in China, offering its iconic Lady Dior bag on the platform.

    Last Monday, the designer brand posted its limited-edition small Lady Dior for the upcoming Qixi, or Chinese Valentine's Day, which falls on Aug 9 this year.

    Dior aimed to sell the bag between Monday and Thursday but the bag sold out online on Tuesday.

    For this limited-edition launch, consumers can drag the online pictures of the decorations they want to the bag, tailor-making them to their needs.

    The bag is priced at 28,000 yuan (S$5,660), and buyers can pay through WeChat.

    "As luxury brands can find their target consumers by big data of WeChat, the largest social network in China, it's easier for them to advertise and sell products on WeChat," said Lu Zhenwang, an Internet expert and chief executive of Shanghai-based Wanqing Consultancy.

    "Many luxury brands are operating under pressure and they would like to open up the market through e-commerce platforms.

    "Even if the sales are slow, they can achieve results through marketing and branding," he noted.

    Some other luxury brands, including Cartier, International Watch Company, Montblanc and Longchamp, have already launched their online sales platforms on WeChat and provided special services and discounts.

    According to the 2015 China Luxury Forecast by global public relations firm Ruder Finn and Ipsos Group, a Paris-based market research group, 36 per cent of respondents in China said they would like to buy luxury products online.

    This is a rise of 24 per cent from the previous year.