Key Takeaways: Many of the well-honed best practices of luxury retail are rooted in what works for the European and American markets. China’s dramatic rise in personal wealth over the last decade occurred parallel to a similarly spectacular growth of e-commerce in the country. There is already definite consumer demand for buying ultra-luxury online, with over 340 product units on Tmall priced between $7,710 and $77,100 (50,000 and 500,000 RMB) selling during June. The success of Tmall’s Luxury Pavilion has helped quash luxury brand concerns about selling their products through digital channels. Since 2017, over 200 brands and designers have…