Alibaba Group is in advanced talks to invest nearly $300 million in Farfetch.
Reuters reported that the London-based online luxury fashion retailer is also in talks to create a Chinese joint venture.
Cartier-owner Richemont - which has previously collaborated with Alibaba to create mobile apps - is also considering investing in Farfetch alongside the Chinese e-commerce giant.
Both Farfetch and Alibaba did not comment.
Farfetch, which counts Alibaba's competitors JD.com and Tencent among its investors, has been growing its exposure to China's burgeoning online luxury goods market – which makes up around a third of luxury goods purchases worldwide.
Terms of the current and past deals with Tencent and JD would not prevent Alibaba from investing in Farfetch, said a source cited by Reuters.
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