HONG KONG—Victoria’s Secret lingerie, Matsumoto Kiyoshi skincare, and 3CE lipsticks topped the list of bestselling foreign products on Tmall this year, Alibaba said Friday.
The Chinese online giant revealed the international top sellers as it pushes heavily for cross-border ecommerce to drive growth on the site. Alibaba counts 14,500 brands from 63 countries and regions on Tmall, making it China’s largest cross-border shopping platform, it said. Nearly half of the 120.7 billion renminbi, or $17.73 billion, sales generated from this year’s record Singles’ Day derived from international brands’ products.
Setting up an official shop on Tmall is often used as a way for international brands to test demand in the Chinese market and raise brand awareness before committing to physical stores. Victoria’s Secret is said to be opening up a large flagship store in Hong Kong’s Causeway Bay district next year.
Sales on Tmall are driven by strong demand from the young, affluent Chinese, the company said. Over 70 percent of its customers are in the 24 to 32 age bracket and have a yearly income above 100,000 renminbi, or $14,400, making them middle class. Most hail from first or second tier cities like Beijing, Shanghai, Guangzhou, and Shenzhen.