- Marjorie van Elven |
Kering’s Balenciaga has joined JD.com’s luxury platform, Toplife. Launched in October 2017, Toplife is JD.com's response to Alibaba's Luxury Pavillion, released two months prior. Balenciaga is the third Kering-owned brand to join Toplife this year, following Alexander McQueen and Yves Saint Laurent.
"Bringing Balenciaga to Toplife helps further cement our position as the go-to platform for luxury shopping in China”, said Xia Ding, President of International Fashion at JD.com and head of Toplife, in a statement. Cédric Charbit, CEO of Balenciaga, added that the partnership is “an important step for Balenciaga’s omni-channel strategy in China”.
The news marks one more step in JD.com’s plans of expansion in the luxury market. Last year, the Chinese e-commerce giant invested 397 million US dollars (approximately 303 million pounds) in the British luxury e-commerce platform Farfetch, which acquired the Chinese digital marketing CuriosityChina a few days ago.
Earlier this year, JD.com received an even bigger investment from Google. The search engine allocated 550 million US dollars to a strategic partnership with the Chinese company. Yesterday, JD.com’s CEO, Richard Liu, announced plans to expand not only in China, but in Europe as well. According to a German newspaper, the company aims to open an office in Germany by the end of 2018.
Photo: Courtesy of Toplife