Farfetch to sell on China’s JD.com platform
Farfetch limited, the world’s leading tech platform for the luxury fashion industry, has announced that it’s developing a closer partnership with China’s second-biggest online retailer, JD.com. JD is not just an ecommerce specialist – it’s also a strategic investor in Farfetch. So the companies are hoping they can build on an existing relationship that has seen Farfetch leverage JD’s logistics capabilities and insights to capture attention in the Chinese market.
Farfetch’s share price has appreciated by 9% over the past five days
Source: Yahoo Finance
According to the companies’ press release, Farfetch now has a ‘Level 1’ entry point on the JD.com app. This brings Farfetch’s portfolio of more-than 3,000 luxury brands to JD.com’s 300 million-strong user base.
In a statement, Farfetch’s China managing director, Judy Liu, said: “I am delighted to be able to offer JD.com’s customers direct access to the broadest selection of luxury fashion online, and to be able to offer luxury brands the Premier Luxury Gateway to China for executing on their digital strategy in China. We have been able to do this, in significant part, thanks to the enthusiasm and support from our brand partners. Brands crave ever-better access to the Chinese market, and we are thrilled to deliver this for them.”
“This is an important expansion of our strategic partnership with JD.com, which strengthens Farfetch’s China business as part of our truly global offering. Being able to offer the full suite of Farfetch’s technology and logistics platform to brands wanting to reach high-end Chinese consumers is a major competitive advantage as we seek to continue to grow market share in the rapidly expanding online luxury market.”
Dominion holds Farfetch in its Global Trends Luxury Fund.
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