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.
Latest News
-
Retailers could do more to prevent in-store crime, advises police chief
-
Retail industry not doing enough to attract data scientists, says BRC chief exec
-
B&Q to speed up marketplace expansion with new partnership
-
Artificial general intelligence next frontier after GenAI, says Google DeepMind exec
-
FedEx Express partners with Zonos to automate EU customs processes
-
River Island prioritising ‘self-checkout and RFID’ across store network
The Very Group
Smarter merchandise planning across the retail value chain
In this webinar, Matt Hopkins, Head of Retail Solutions, Board, Catherine Tooke, SVP Product & Planning, Sweaty Betty, and Subir Gupta, Managing Principal, Thought Provoking Consulting join Retail Systems Editor Jonathan Easton to discuss the findings of the recent Retail Systems report The Merchandise Planning Challenge: How are retailers harnessing technology to optimise planning and retain customers? and examine the innovations that are improving retail planning.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories