Online retailers hope to challenge industry trend

Chinese online luxury retailers have big ambitions, despite the market's slower growth in recent years.

Sun Yafei, CEO of Fifth Avenue Globe - one of the earliest online luxury retailers in China, said she plans to double her website's turnover in 2013, as the company's sales in 2012 already doubled from the previous year.

As sales growth in China's luxury market declined in the past year, some luxury brands said they would slow the expansion of their store networks and integrate their channels in the market in 2013.