In the last four decades, the luxury market in the world has been on expansion, especially the Asian markets. One of the biggest companies in the luxury market — Prada — had attempted to venture into the Chinese market before. However, the new partnership with JD.com will redefine their future into this market. In a deal signed this year, Prada will access the Chinese market through the Chinese retail giant. The following are some of the deals about the partnership between the two companies.
First, the deal will see the Italian fashion giant access the Chinese market better. The company pointed out that JD.com has huge access to customers, and the availability of potential customers was one of the reasons why the Italian company chose the Chinese retail giant. Second, Prada will able to benefit from the company’s safest delivery unit.
Over the years, for example, JD has progressively made their systems better, especially their delivery wing. These two factors create a successful environment for the two companies. In addition, Prada will also benefit from the company’s professional customer service. In special markets such as luxury markets, customers’ opinions are critical.
In last year alone, the company managed revenue of US$67.2 billion dollars — the best performance in the world of e-commerce. Some of the reasons why JD.com resisted this net income include the following factors.
First, the company is the first ever entity in this market to have over 300 million customers. Even though not all customers were consistent, the profits are unmatched. Read This Article to learn more.
Second, the company continues to be the market leader in terms of storage facilities — currently owning over 550 warehouses in China alone.
In addition to structures and the company’s structure, JD is one of the companies that understand the importance of technology, especially interacting with customers. Therefore, the company continues to make it easy for customers to buy products on its website through mobile phones.
Lastly, the company remains one of the few entities in Asia in investing part of their income into projects benefiting the communities. The management believes that these projects are some of the ways the company connects with communities away from the business world.
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