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Cartier Meets Tmall in Richemont-Alibaba Online Luxury Tie-Up
- Alibaba, Swiss luxury-goods maker form Tmall venture for China
- Deal strengthens Richemont’s lead in luxury e-commerce
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Richemont and Alibaba are teaming up in a venture that strengthens the Swiss Cartier owner’s lead in luxury e-commerce and gives the Chinese online retailer more credibility in selling jewels and $100,000 watches.
The venture will create mobile apps and set up online stores on Alibaba’s Tmall luxury platform under Richemont’s Net-a-Porter and Mr Porter formats, the Geneva-based company said Friday.