Is e-commerce the future of fashion?
To try to answer this question, IFA Paris took its students of MBA Luxury Brand Management, MBA Global Fashion Media and MBA Fashion Business to the MEICI offices in Shanghai, a leader in China for online retail of luxury goods.
Jeffrey Wang, CEO and founder of MEICI, luxury fashion e-commerce company selling luxury goods in China, explained IFA Paris’ students how important e-commerce was today for the fashion industry.
Clothing being the second most bought item online in China, Jeffrey stressed the need for luxury brands to sell online. Indeed, thanks to the variety and accessibility provided compared to a physical store, Chinese customers are much keener on buying online. Because of high maintenance fee and workforce needed for a company to organize sales via their own websites, luxury companies tend to rely on a global retail platforms such as MEICI, which works with more than 300 brands, to organize their sales.
This talk ended with a Q&A session in which IFA Paris students actively took part. They left with new insightw on the importance of e-commerce for the Chinese market in which over 200 million people have shopped online.