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Luxury Labels Slash Prices 50% to Lure Wary Chinese Shoppers

Starting this month, Chinese shoppers can snap up a small beige, crocodile-patterned version of Balenciaga’s iconic Hourglass handbag for $1,947, or 35 percent off on the mainland’s dominant e-commerce platform, Alibaba Group Holding Ltd.’s Tmall.
Starting this month, Chinese shoppers can snap up a small beige, crocodile-patterned version of Balenciaga’s iconic Hourglass handbag for $1,947, or 35 percent off on the mainland’s dominant e-commerce platform, Alibaba Group Holding Ltd.’s Tmall.
Starting this month, Chinese shoppers can snap up a small beige, crocodile-patterned version of Balenciaga’s iconic Hourglass handbag for $1,947, or 35 percent off on the mainland’s dominant e-commerce platform, Alibaba Group Holding Ltd.’s Tmall. (Shutterstock)

Some luxury labels are discounting their products to an unprecedented degree in

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