One of China's largest online marketers, JD.com, and Farfetch, an international online luxury fashion brand retailer, have agreed to work together. JD is ready to invest $ 397 million in a project to create an online platform with an exclusive assortment of world-class luxury goods on the Chinese market. The potential turnover of the future online platform is $ 80 billion, writes new-retail.ru
The interaction of JD.com and Farfetch will allow retailers to combine efforts in the field of logistics, commerce and technology. The strong point of Farfetch is its established contacts with the global leaders in the fashion industry. The advantages of JD.com are the presence of a strong logistic structure (the recently launched JD Luxury Express courier delivery service will open online shopping without borders for Chinese buyers, allowing you to deliver an unprecedented range of Farfetch in record time).
Farfetch has already been introduced to the Chinese market as a partner of 200 brands and 500 multi-brand retailers.
Through the partnership with JD.com, Farfetch will also gain access to resources from BlackDragon, a marketing agency and online platform of the same name that focuses not only on the development of retail and e-commerce, but also in the financial and technology sectors, as well as tourism and education. BlackDragon will take over the marketing research and promotion of Farfetch in China, leveraging JD's virtually unlimited analytics capabilities.
Another advantage of this partnership for customers from China will be the introduction of JD Finance services that will allow you to pay for purchases on Farfetch using JD Pay and Baitiao, a popular payment system that provides microloans.
Farfetch was founded by Portuguese entrepreneur Jose Neves in 2008 in London. Today it is a global corporation with offices in 11 cities, including London, Tokyo and Los Angeles, and partners engaged in express delivery to more than 190 countries. The online store Farfetch offers an assortment of women's and men's clothing, shoes, accessories and jewelry of famous luxury brands.
In 2015, the legendary London Browns department store became part of Farfetch. In 2016, Farfetch completed the F Series Investment Round, receiving $ 110 million for development. The company is currently valued at $ 1 billion.