Time: June 26, 2017
KOL: Mr. Bag
Special Holiday: Mr. Bag's 25th birthday
Single Item Price: 16,800 RMB
Total Contribution: 3,360,000 RMB
Highlight: 200 items all sold out within 20 minutes
Lately, Chinese Key Opinion Leaders (KOLs) are increasingly collaborating directly with brands to help them sell more products over short periods of time.
Mr. Bag, one of the most influential Chinese fashion/luxury bloggers, once teamed up with Givenchy for Valentine's Day to promote limited edition pink Horizon handbags, available exclusively on WeChat to his followers. All 80 pieces, each priced at 14,900 RMB ($2,170), sold out almost instantaneously!
More to read: How China’s ‘Mr. Bags’ Moves Luxury Handbags in Mere Minutes
Soon later, Tod's celebrated Mr. Bag's 25th birthday by inviting him to design 3 bags, Wave, Sella and Double T.
Mr. Bag thoroughly explained his ideas of the 3 different sized bags in his WeChat post and created different scenarios to carry these bags.
Each of the globally exclusive 200 designed bags inspired by Mr. Bag has its own unique serial number, dust-proof bag and package.
Inspiring photos of Wave
Inspired with Nana Ou-Yang (歐陽娜娜) for Double T
Inspired with ShiShi Liu (劉詩詩) for Sella
Once again, every one of these bags were all sold out on the same day they were published. We predict that this recent trend will further fuel exponential growth of China's luxury market, bringing it to a whole other level. China's rapid social media amplification and KOL promotion are once again shown to be instrumental in the transformation of China's consumer market.
WARC once mentioned China KOL 2016’s value of ¥53 billion ($7.8 billion) is estimated to near double to ¥102 billion ($15.1 billion) this year.
A chart from L2 showed that "China shoppers remain the luxury industry's biggest spending nationality but most of their shopping still takes place abroad. Although China represents an estimated 30 percent of luxury spend, China's domestic market accounts for only 7 percent of the global luxury market." quoted from L2's Digital IQ Index Luxury China 2017
China KOL economy is increasingly proving itself to be one of the most effective ways for brands to discover and approach their (potential) customers, boosting sales through all channels, brand-owned ecommerce platform, WeChat, 3rd party website, etc.
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Image source: Mr. Bag's WeChat posts, L2, and internet