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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Supplying demand: how fashion retailers can meet the needs of customers and still be sustainable
The fashion industry is no stranger to breaking the mould and setting trends, but the pursuit of style can come at a huge cost to the environment.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
New legislation, such as the European Union's Ecodesign for Sustainable Products Regulation, will set mandatory minimums for the inclusion of recycled fibres in textiles, making them longer-lasting and easier to repair.
The Very Group
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