Tiffany & Co. starts selling accessories through KakaoTalk
Gift coupons sent via KakaoTalk have become one of the most popular ways to give small presents like coffee or cake. The gift section is upping its game, however, as luxury house Tiffany & Co. started selling accessories through the messenger app.
Kakao Commerce, operator of KakaoTalk Gift, said Thursday that from this month, more than 60 Tiffany & Co. products are available on its gift platform. The list includes pendants, bracelets and necklaces. This is the first time Tiffany & Co. has directly placed products for sale on a domestic e-commerce platform.
Prices range from as low as 230,000 won ($210) up to several million won. The most expensive item on the list is a gold bangle with one tip shaped like a T, priced at 8.3 million won.
“Tiffany & Co. joining our platform was motivated by the company’s intention to increase exposure with millennials that are familiar with buying luxury goods online, as well as getting closer to customers that live in regions that do not have the brand’s boutiques,” Kakao Commerce said in a statement.
After the Tiffany & Co. item is delivered, the recipient can register as a Tiffany & Co. member at the luxury brand’s brick-and-mortar boutiques and use warranty services including repairs and cleaning.
“We plan to continue the partnership with Tiffany & Co. to introduce new items each season,” the company added.
First introduced in 2010, KakaoTalk Gift has constantly expanded the products sold on its platform. In November 2019, it began venturing into the realm of luxury goods. Gucci, Prada, Burberry, Armani and Mont Blanc are among the luxury brands selling products in the form of KakaoTalk gift coupons.
According to Kyobo Securities' estimate, sales of luxury brand items through Kakao are growing at a rapid pace: Revenue from what Kakao labels “high-end market” transactions reached 115.3 billion won last year, doubling from 57.2 billion won in 2018.
BY SONG KYOUNG-SON [email@example.com]