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JD.com’s Toplife to merge into Farfetch’s existing China business
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Farfetch to gain ‘Level 1’ access on the JD app
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JD.com’s 300 million customers to have access to more than 3,000
luxury brands through Farfetch’s network
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Win-win collaboration to provide ‘Premier Luxury Gateway to China’
for luxury fashion brands
LONDON & BEIJING--(BUSINESS WIRE)--
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.”
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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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20190228005311/en/
Media:
Farfetch
Susannah Clark
VP
Communications, Global
susannah.clark@farfetch.com
+44
7788 405 224
Brunswick Group
farfetch@brunswickgroup.com
US:
+1 (212) 333 3810
UK: +44 (0) 207 404 5959
JD.com
+86
(10) 8911-6155
Press@JD.com
Investor
Relations:
Farfetch
Alice Ryder
VP Investor
Relations
IR@farfetch.com
JD.com
+86
(10) 8912-6805
IR@JD.com
Source: Farfetch Limited