Moschino grows in China

Moschino grows in China

One year after the opening of the flagship on the Tmall luxury pavilion, the Aeffe brand has brought the market of the former Celeste Empire to 14% of total turnover with an online weight of 10%

 

Moschino accelerates the pace in China thanks to the presence on the Tmall luxury pavilion. In fact, the brand controlled by the Aeffe Group, saw about 14% of its turnover come from the Chinese market, which in 2018 amounted to more than 250.8 million euros (up 13.6% on 2017) and that in the first three months of the current year marked a further growth of 10.7% for a revenue total of 71.4 million.

Gabriele Maggio, managing director of the Milan label, explained: “It is the result of online, which, if it is worth about 7/8% in its total, is already 8/10% in China. A nice goal,” he continued, “considering that we only opened last year. The presence on the Tmall was obviously fundamental, but not only in terms of economic value, but also in terms of its analytical and communication importance in a market that is constantly growing and evolving.” Christina Fontana, business development director of Alibaba Italia, explained the last year closed by the Chinese group. “The turnover increased by 51% to 853 billion dollars (about 760.5 billion euros at yesterday’s exchange rate) but the number of consumers grew by about 100 million units.”

And then, going back to Moschino, which by the way, “can count on a Jeremy Scott well known also in China”, continued Gabriele Maggio, “last June 18th we held an event in our shanghai boutique Kerry center broadcast livestreaming that has collected over 190,000 views. For the future,” he added, “the goal is to grow and implement more and more our work with Tmall, but without breaking that balance with the sale in traditional stores that are fundamental”. All this within a structure which, in economic terms, means, as Fontana explained: “A contract that is renewed annually with a base cost of about 8 thousand euros, which are reimbursed by crossing a certain commercial goal, and which has percentages on commercial transactions between 1.5 and 5% depending on the product categories (the higher the higher they are low, ed.), to this you must then add about 20 thousand euros of deposit to open the Alipay account with which the transactions take place.

‘Especially’, he concluded, ‘we work in an environment that has worked very hard against counterfeiting. On Tmall there are practically only manufacturers, more than a hundred luxury brands including those of Kering, with which we were in cash precisely for a matter of fake products, and this in my opinion is the result of an important and successful work.”