Gucci is taking major strides to drive its business among Chinese consumers and engage them by creating a digital community. On Monday, the Italian luxury goods maker announced a joint business partnership with Chinese internet goliath Tencent, to, in large part, innovate across Tencent’s unique digital ecosystem and resonate even more among Chinese consumers.
The news follows a report released by Bain & Company last week illustrating how the Chinese market, millennials and Gen Z are the main drivers of the personal luxury goods market, a segment that is expected to rise to 282 billion euros this year, up from 262 billion euros in 2018. In the longer-term, one out of two personal luxury goods are expected to be purchased by individuals of Asian origin.
In particular, the Gucci-Tencent deal is designed to establish a framework across the board that will stimulate innovation and leadership in the digital arena — particularly in the Internet of Things, Artificial Intelligence, Data Science, Smart Retail, Content Generation and Digital Thought Leadership.
“The digital landscape is becoming increasingly complex with both existing and emerging technologies that provide significant opportunities for deeper, customized and personalized engagement with our brand community. This joint business partnership is designed to create the conditions that allow us to fully capitalize on this potential together,” Gucci ceo and president Marco Bizzarri said in a joint statement released by Gucci and Tenecent.
“Through this collaboration with Gucci, we will jointly build exceptional experiences for Gucci’s community, conveying Gucci's fashion sensibility and contemporary aesthetics to Chinese consumers,” Tencent president Martin Lau said. The Shenzhen, China-based social media giant provides internet and mobile value-added services, online advertising, and e-commerce transactions to users worldwide and in arenas that range from fashion to the NBA, to which it recently paid $1.5 billion for five years of exclusive streaming rights.
To commemorate its partnership with Gucci, the company produced a short film series — the first of its kind produced by Tencent with a luxury label.
A four-part co-created content project called “Gucci Inspiration Map” paired Chinese talents with Italian ones — individuals who are part of designer Alessandro Michele’s creative milieu.
Fiammetta Terlizzi, communications and external relations of Biblioteca Angelica (one of the oldest public libraries in Europe), and Valentina La Rocca, co-owner, antiquarian and artistic director of Antica Libreria Cascianelli (another one of Michele’s sources of inspiration) were paired with celebrities like Ni Ni, as well as Lai Guanlin, Song Yanfei, Wang Yueyi, Yang Chaoyue and Zhou Zhennan, five Chinese Generation Z pop singers and actresses who were featured in the finale episode.
Envisaged to explore themes like self-expression, inclusiveness and community connection, the series was originally launched on October 11 and has already garnered more than 64 million views on Tencent video and Gucci platforms in China, while generating more than 440 million views on Weibo.