JD.COM, FARFETCH PART­NER TO OPEN UL­TI­MATE GATE­WAY FOR BRING­ING LUX­URY BRANDS TO CHINA

Images Retail - - NEWSMAKERS INTERNATIONAL -

E-com­merce gi­ant Jd.com, China’s largest re­tailer and Farfetch, the lead­ing global e-com­merce plat­form for the fash­ion in­dus­try, has an­nounced a strate­gic part­ner­ship that will cre­ate the pre­mier plat­form for lux­ury e-com­merce across China, open­ing a gate­way to an US $80 bil­lion mar­ket.

The part­ner­ship lever­ages JD’S un­par­al­leled lo­gis­tics, In­ter­net fi­nance and tech­nol­ogy ca­pa­bil­i­ties and so­cial me­dia re­sources, in­clud­ing its Wechat part­ner­ship, with Farfetch’s lead­er­ship in global lux­ury, to cre­ate a fric­tion­less and seam­less brand ex­pe­ri­ence. Farfetch has well-es­tab­lished op­er­a­tions in China and is al­ready the part­ner of choice for 200 lux­ury brands and more than 500 multibrand re­tail­ers. JD will help drive fur­ther brand aware­ness, traf­fic and sales for Farfetch in the mar­ket.

As part of this part­ner­ship, Jd.com will be­come one of the largest share­hold­ers of Farfetch, in­vest­ing US $397 mil­lion, and Founder and CEO, Jd.com, Richard Liu will join the Farfetch board.

JD and Farfetch will part­ner on mar­ket­ing, lo­gis­tics and tech­nol­ogy so­lu­tions to build the brand in China, while Farfetch will con­tinue to be the cus­tomer-fac­ing brand. The com­bined strength of the two will ben­e­fit all 700 brands and bou­tiques that are part of the Farfetch com­mu­nity, en­abling them to take ad­van­tage of the vast re­sources of this new gate­way to China’s lux­ury mar­ket.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.