Dior sells online through WeChat for the first time. (Photo : Getty Images)
Dior released the bag on WeChat on Monday and was already sold out on Tuesday. The bag is priced at 28,000 yuan or $4,210. The bag can also be tailored according to the style that the buyer wants.
Lu Zhenwang, chief executive officer of the Shanghai-based Wanqing Consultancy, said that it is easier for luxury brands to zero in on their target buyers through WeChat. The platform caters the ads to its user's preferences.
"Since luxury brands can find their target consumers by big data of WeChat, the largest social network in China, it's easier for them to advertise and sell products on WeChat," he said.
He added that luxury brands are under pressure now due to low sales. Dior reported that sales have gone down by 2 percent in 2015.
"Many luxury brands are operating under pressure, and they would like to open up the market to e-commerce platforms. Even if the sales were slow, they could achieve results through marketing and branding," Lu added.
This is the first time that the luxury brand sold online. The brand posted the ad on its public WeChat account on Aug. 1.
A report was published by Ipsos Group, a consultancy firm that showed 36 percent of Chinese consumers are willing to purchase luxury items online. In 2014, only 24 percent expressed interest.
Liang Shangjiu, the general manager of Longchamp China, said that there is still no e-commerce platform that can meet the requirements to sell luxury brands.
"Offline shops have indeed entered a bottleneck period that is in need of adjustment," she said.
In the meantime, Longchamp is selling on WeChat.
Other brands are already selling through the Chinese chat app. Cartier, International Watch Company, and Montblanc have already posted ads.
