Chinese firm takes on global luxury market

The Chinese e-commerce platform Dewu has emerged to shake up the global luxury goods market by offering steep discounts of up to 40 percent on luxury fashion goods and sneakers.

Dewu, or its English name Poizon, was originally a platform for purchasing, reselling and discussing sneakers. But since 2018, it has sold branded clothing, handbags, watches, electronics and toys that are purchased worldwide.

The platform has more than 160 million active users who often have new, legitimate goods from abroad such as Louis Vuitton, Chanel and Gucci to sell on the site. It is especially appealing to price-conscious Generation Z Chinese shoppers.