Chinese Spending Power Holds Strong, Competition Heats Up
At less than one year old, Shouke.com has shaken up the Luxury e-Commerce Market in China. Adrienne Ma, daughter of Hong Kong multi-brand retailer founder, Joyce Ma, established the site in order to fulfill the void in a lucrative market. Since the site’s creation, the market space has become increasingly crowded and the Chinese consumer has become keenly aware of Western trends. In an effort to take advantage of the spending power of the segment, London-based Net-A-Porter is looking to capitalize on China’s e-Commerce shopping dollars by scooping up the Asian fashionista’s go-to source for all things sartorial. Shouke.com, which is based in Hong Kong, will operate under the name, TheOutnet.cn as the Asian complement to the European TheOutnet.com, Net-A-Porter’s off-price segment. The site is set to launch on March 19 and the company is priming to open a new distribution center in Hong Kong in 2013 affording the Chinese customer the same service luxuries experienced in the US and Europe such as 24-hour delivery.