Farfetch and JD.com Expand Strategic Partnership to Build the Premier Luxury Gateway to China
February 28 2019 - 3:00AM
Business Wire
- JD.com’s Toplife to merge into
Farfetch’s existing China business
- Farfetch to gain ‘Level 1’ access on
the JD app
- JD.com’s 300 million customers to have
access to more than 3,000 luxury brands through Farfetch’s
network
- Win-win collaboration to provide
‘Premier Luxury Gateway to China’ for luxury fashion brands
Farfetch Limited (NYSE: FTCH), the leading global technology
platform for the luxury fashion industry and JD.com (NASDAQ: JD),
China’s largest retailer, today announced the expansion of their
strategic partnership in order to provide the ‘Premier Luxury
Gateway to China’ for luxury brands.
Under the agreement, Toplife will merge into Farfetch China. In
addition, Farfetch will gain a ‘Level 1’ entry point on the JD.com
app, providing JD.com’s 300 million customers with instant access
to more than 3,000 brands via Farfetch’s network of more than 1,000
luxury brand and boutique partners.
The partnership builds on the existing successful relationship
between Farfetch and JD.com, started in July 2017. Since then,
Farfetch has leveraged JD.com’s logistics capabilities in China, as
well as JD.com’s insights into the behaviors of China’s luxury
consumers. JD is one of Farfetch’s largest shareholders.
Farfetch has strengthened its China business through its
agreement to acquire CuriosityChina, a leading integrated marketing
and social commerce company. Through this expanded agreement with
JD.com, Farfetch will offer the full suite of Farfetch’s technology
and logistics platform to brands wanting to reach luxury consumers
in China, which accounts for significant growth in the luxury
industry1.
Luxury is an integral component of JD Fashion. As a key player
in China’s luxury market, JD has been working directly with luxury
brands to offer an end-to-end luxury shopping experience, from
customer service to logistics, with luxury warehousing and ‘white
glove’ delivery via JD Luxury Express. It has also pioneered
omnichannel luxury partnerships. Several top brands have made their
official e-commerce luxury debut with JD. Going forward, JD will
continue to expand its direct partnerships with luxury brands.
José Neves, Founder, CEO and Co-Chairman, Farfetch said: “We are
delighted to build on our relationship with JD.com, and bring to
market an unrivalled solution for luxury brands to succeed in the
Chinese market. We believe our Level 1 access with JD.com “closes
the circle” and will be transformational for the luxury industry’s
digital landscape in China. With this agreement, and our previous
strategic investments in China including our acquisition of
CuriosityChina, we now offer luxury brands a one-stop solution to
develop their digital strategies in accessing the engaged and
sophisticated audience in this important market. Today we mark the
launch of what I believe is the Premier Luxury Gateway to
China.”
Jon Liao, Chief Strategy Officer of JD.com, said “This win-win
collaboration is a key development in our ongoing relationship with
Farfetch. We are combining the best of global and local market
expertise in the luxury segment. This is an important step for
JD.com in developing its global fashion and luxury ecosystem. In
just over a year of operation, Toplife has worked with many of the
world’s top brands, and has grown to become the platform of choice
among China’s discerning luxury consumers and brands. Luxury is an
integral part of our fashion offering, and we are excited to work
together with Farfetch to create the ultimate destination for
luxury shopping in China.”
_______________1 Bain “Altagamma 2018 Worldwide Luxury Market
Monitor - The Future of Luxury: A Look into Tomorrow to Understand
Today (November 2018)”
ENDS
About Farfetch
Farfetch Limited is the leading global technology platform for
the luxury fashion industry. Founded in 2007 by José Neves for the
love of fashion, and launched in 2008, Farfetch began as an
e-commerce marketplace for luxury boutiques around the world. Today
the Farfetch.com Marketplace connects customers in over 190
countries with items from more than 50 countries and over 1,000 of
the world’s best brands, boutiques and department stores,
delivering a truly unique shopping experience and access to the
most extensive selection of luxury on a single platform. Through
its business units, which also include Store of The Future,
Farfetch Black & White Solutions, Browns, and Stadium Goods,
Farfetch continues to invest in innovation and develop key
technologies, business solutions, and services for the luxury
fashion industry.
For more information, please visit www.farfetch.com.
About JD.com
JD.com is a leading technology driven e-commerce company and
retail infrastructure service provider in China. Its cutting-edge
retail infrastructure enables consumers to buy whatever they want,
whenever and wherever they want it. The company has opened its
technology and infrastructure to partners, brands and other
sectors, as part of its Retail as a Service offering to help drive
productivity and innovation across a range of industries. JD.com is
the largest retailer in China, a member of the NASDAQ100 and a
Fortune Global 500 company.
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version on businesswire.com: https://www.businesswire.com/news/home/20190228005311/en/
Media:FarfetchSusannah ClarkVP Communications,
Globalsusannah.clark@farfetch.com+44 7788 405 224Brunswick
Groupfarfetch@brunswickgroup.comUS: +1 (212) 333 3810UK: +44
(0) 207 404 5959JD.com+86
(10) 8911-6155Press@JD.comInvestor
Relations:FarfetchAlice RyderVP Investor
RelationsIR@farfetch.comJD.com+86
(10) 8912-6805IR@JD.com
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