Chinese ecommerce giant JD.com has bought a significant stake in global luxury fashion site Farfetch, as it looks to create a luxury shopping platform for Chinese consumers.
JD.com has invested $397m in Farfetch and announced a strategic deal which will see the two businesses partner on marketing, logistics and technology solutions to build the Farfetch brand in China.
The deal is part of a major luxury push by JD.com, which is China’s second largest ecommerce site after Alibaba.
The partnership offers a significant boost to JD.com’s luxury fashion credentials and provides Farfetch with access to the Read full story ›
Source: The Drum
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