Farfetсh, one of the world's largest online platforms for the sale of fashionable goods, has entered into a cooperation agreement with Bosco di Cilegi, a major player in the Russian luxury fashion market. In the course of cooperation, the online platform will gain access to the retail assets of Bosco in Russia, and the Russian retailer will be able to increase its own online sales, writes RBC with reference to the Bosco di Cilegi report for 2020.
Bosco di Cilegi operates the Moscow department store GUM and a chain of 200 mono-brand boutiques of fashionable clothes and accessories located in the central shopping streets of the Russian capital. Farfetсh expects to increase its presence in the Russian market through physical retail. For Farfetch's Russian customers, the partnership with Bosco di Ciliegi will enable expedited shipping with duties already included in the final price of the goods.
During the partnership, Bosco di Cilegi, in turn, will gain access to the operating platform and services and customer base of the online marketplace. Currently, the cooperation of the two players is limited to the borders of the countries belonging to the Customs Union zone, but in the future, according to the founder of Farfetch, Jose Neves, Bosco di Cilegi will be able to export and sell goods in all 190 countries where the luxury online retailer operates.