Is DeWu (Poizon) siphoning luxury sales in China?
DeWu (得物) / Poizon, an ecommerce platform originally for sneakerheads, is becoming a popular a destination for GenZ consumers in China to discover and buy luxury products. While their consumer base profile aroused the interest of luxury brands, the presence of heavily discounted products also brings some concerns on brand image and cannibalization to direct channels. In our initial analysis of luxury products on DeWu, we look at the performance of 4 luxury sneakers (Balenciaga, Gucci, Saint-Laurent and Burberry) compared to their TMall flagship stores.
October 11, 2022