Xiu.com, one of the leading online fashion retailers in China has announced the expansion of its logistic networks into Europe, following its foray into the US and Hong Kong, as the e-tailer aims to introduce more European brands into China.
The fashion e-tailer has already established office and warehouses in the UK and Italy with the aim to help local brands enter China to satisfy the increasing middle class in China, which is predicted to become the next consumption superpower. According to the China National Garment Association, fashion has become the largest section of the e-commerce market in the country, with online shoppers spending 100 billion dollars on apparel items in 2014, a 42 percent increase from 2013.
"The frenzy passion for fashion from Chinese shoppers is a great opportunity for multinational brands who are seeking global expansion," commented Ji Wenhong, Founder and CEO of Xiu.com. "We found Chinese Customers are evolving. The first generation of Chinese online consumers, who are mostly in the ages from 25 to 35 years old, are starting to pursue high quality lifestyle products and demand premium products and services," he added. "As a leading fashion online retailer, Xiu.com is dedicated to bring more high quality products into China."
The e-tailer noted that Chinese consumers previously preferred to shop whilst traveling abroad because the prices for western goods were much lower in overseas stores. However, with the increase in online shopping, more Chinese consumers are finding online prices which are equal or even less than those in overseas stores and spending more online.
Xiu.com revealed sales increased 80 percent between January 2014 and 2015, citing the increasing in saled to its partnership with over 2,000 overseas companies, including eBay, Blue Nile, Hugo Boss and Salvatore Ferragomo, who recently signed a three year deal with the Chinese retailer.