THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Omni Channel Futures 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Alibaba and Richemont invest in Farfetch and China joint venture

Alibaba and Richemont are investing $600 million in online luxury fashion retailer Farfetch. The two companies will also invest $250 million each in a newly formed… View Article

FASHION

Alibaba and Richemont invest in Farfetch and China joint venture

Alibaba and Richemont are investing $600 million in online luxury fashion retailer Farfetch.

The two companies will also invest $250 million each in a newly formed Farfetch China joint venture and explore other opportunities to work with Farfetch to provide services to luxury brands.

The move means that Alibaba will launch Farfetch luxury shopping channels on Tmall Luxury Pavilion and outlet destination Luxury Soho, as well as Alibaba’s cross-border marketplace Tmall Global. This will give Farfetch access to Alibaba’s 757 million consumers.

Daniel Zhang, chairman and chief executive of Alibaba Group, said: “This highly complementary partnership brings together some of the world’s leading luxury retail and technology platforms, representing another milestone in Alibaba’s strategy to meet the rapidly growing demand for luxury products in China.

“The Chinese luxury market – which is expected to account for half of global luxury sales by 2025 – consists of hundreds of millions of young, digitally-native consumers. By partnering with Farfetch and expanding our existing relationship with Richemont, we will accelerate the digitisation of the global luxury retail industry and transform the luxury shopping experience for consumers.”

 

 

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

THE NEXT EVENT

See all upcoming events

LATEST VIDEO

UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON
UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON

Watch video >