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September 24, 2019

Waigaiqiao, Master Bao to launch luxury trade center

The Waigaoqiao Horologe Trade Center under Waigaoqiao Free Trade Zone Group and Master Bao, a luxury service platform, will jointly build a luxury display and trade center.

It will cover a full industry chain to provide service solutions for the Chinese luxury industry.

The Waigaoqiao Area in the Shanghai Free Trade Zone has been one of the largest domestic luxury distribution hubs.

By the end of 2018, the imported volume for clock and jewelry in the bonded area had hit 7.24 billion yuan (US$1 billion), accounting for about 42 percent of the national sector.

Master Bao, meanwhile, was founded in 2015 and has more than 2 million users.

The two parties will jointly work on the data, trade management and national-level platforms as well as the authentication methods to establish new standards for the industry, Master Bao CEO Nalan Zhengxiu revealed.

Waigaoqiao’s original partners will be a part of the process to carry out all-round business collaboration and tap into more possibilities for cross-border luxury trade.