Denmark's largest fashion group Bestseller has opened a virtual flagship store on the Chinese internet shopping site Taobao Mall, reports financial daily newspaper Børsen. Bestseller brands such as Jack & Jones, Vero Moda and Only can already be purchased in 2,200 stores in China, and with the new internet shop, the company hopes to reach even more customers.
Dan Friis, co-founder of Bestseller's China division, Bestseller Fashion Group, says: "This was the next logical step in the attempt to give our existing customers better service while reaching further both demographically and geographically."
Taobao Mall (taobao.com) was launched in April last year and differs from general Chinese internet shopping by offering customers seven days right of cancellation. Only 18 months after its start-up, Taobao Mall accounts for 78 per cent of total net shopping in China.
MD of Bestseller Anders Holch Povlsen says: "We have been waiting for internet portals to become more mature and professional. The important thing right now is that we have got Taobao to close online stores that are selling products that counterfeit our brands."
Bestseller forecasts that in nine months, internet revenues generated from the new cyberstore will account for up to 2% of total sales in China. "After three years perhaps more than 5% of our revenues in China," says Povlsen.
In 2007/2008, the Bestseller group made a turnover of DKK 10.9bn (DKK 2.2bn), an increase of almost DKK 500m (USD 100m) compared to the previous fiscal year.