Chinese online luxury shoppers can now buy beauty and food products by subscription. Bringing this sales technique to the Chinese e-commerce market, MyLuxBox.com sells subscriptions to patrons who receive a new box of luxury goods each month.
MyLuxBox.com recently received attention from Tech in Asia for its offerings, which include a “beauty box” of high-end cosmetics and skin-care products geared toward both women and men, as well as a “taste box” (an array of dessert snacks).
Cosmetic and food products aren’t all that MyLuxBox.com offers. Each box comes in a stylish package and presents multiple products in small amounts, allowing the consumer to experiment and chose which products they like best. MyLuxBox.com sells the image of beauty along with their luxury products, emphasizing both quality and aesthetic appeal.
The company says it has over a quarter million registered users, with 10,000 subscribers from across 300 of China’s cities having a box delivered every month, and a growth rate of 30% per month.
With seed funding that included a US $400,000 investment from the ZhenFund, MyLuxBox.com may soon have series A backing. That would put it closer to a more established competitor, the Chinese lingerie e-tailor La Miu. This year La Miu is expected to close a round of tens of millions of dollars in new financing, building upon its 2009 series A funding that amounted to about US $5 million. La Miu has added a new line of outdoor wear that is designed and manufactured by the company. The company sells its products on a B2C platform that functions as a high-fashion online mall.
La Miu and MyLuxBox are building e-commerce businesses in part on the quality of their product presentation. American exporters that enter new markets start with the advantages inherent in a foreign novelty. There are several ways to build on that strong foundation. Drawing from the successes of Chinese companies, American exporters can make sure their offerings compete favorably with the in-store experience by providing stylish packaging and a rewarding interactive experience. Exporters seeking to increase sales recognize that while substance is important, presentation is equally significant.
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