NIO's lifestyle brand opens flagship store on Alibaba's Tmall
Many people know NIO as an electric car company targeting the high-end market, but few know that the company also has big ambitions in lifestyle products.
NIO's lifestyle brand, NIO Life, announced Friday that it has opened a flagship store on Alibaba's Tmall platform in order to "share its joyful lifestyle to more people."
Alibaba reported on Thursday that its annual active consumers in China's retail market reached 811 million, with the average annual spending of users on Tmall, an e-commerce platform for corporate merchants, and Taobao, a platform for individual merchants, at RMB 9,200.
Founded in 2018, NIO Life is an important means for NIO to build relationships with users beyond the car. By the end of April, NIO Life had sent out more than 3 million items, covering eight categories: apparel and accessories, travel luggage, technology products, home products, car life, car toys, hotel experience and food.
As an early investor of NIO and Tesla, 110-year-old asset management firm Baillie Gifford had been optimistic about the social e-commerce potential of the NIO App and expected that NIO Life's annual sales would reach RMB 200 billion in 2030.
NIO Life has helped NIO increase user loyalty and enhance users' identification with the brand. For example, in the Blue Sky Lab project, NIO Life recruited 10 user designers from jewelry, clothing, architecture, products and other fields.
Liu Jie, the head and senior director of NIO Life, had revealed in October last year that there are car owners and non-car owners who buy NIO lifestyle products, with a ratio of 1:1. "Our core audience group is the new middle class in first and second-tier cities, mostly male car owners."
From May 14 to May 18, the first Alibaba Design Week will be held in Hangzhou, where NIO Life will exhibit original design products such as the Blue Sky Lab concept series, Tom Dixon luggage series, and The New Bottle insulated cup.
NIO Life has been committed to integrating global design resources to create a pleasant lifestyle with fine products with attitude, story, and design. "This time, we will explore the new business trend of design with top designers at Alibaba Design Week," it said.