China is now the world’s largest retail market at US $5.69 trillion. Tmall.com is the #1 e-commerce site in China, similar to Amazon but far more social, inspirational, and discovery based. Owned by Alibaba, Tmall accounts for 56.6% of all e-commerce B2C internet sales in China. Tmall Global is their cross-border marketplace that allows international brands to sell into China without establishing a brick-and-mortar presence there. Tmall Global provides instant access to 552 million active Chinese customers, half of which are under 30, with an appetite for international luxury goods. Over a quarter of Tmall Global sales are in beauty and personal care.
Tmall kicked off the Tmall Global Beauty Pilot Program in Italy, launching four brands earlier this year in China. Kiko Milano CEO Cristina Scocchia estimates revenue of about EUR 50 million ($58.5 million) over the next three years through the program.
Tmall Global is inviting a select group of beauty and skincare brands to the Tmall Global Beauty Glammy Conference for a day of education and fireside chats. Learn from the Tmall Global team about Cross-Border and New Retail opportunities within the Chinese market.
If you’re interested in attending and learning about the massive untapped opportunity in partnering with Tmall Global, RSVP here.
Photo: ChuXue Lu via Unsplash