Farfetch has joined forces with etail giant JD.com to create “the premier platform for luxury ecommerce across China”.
Farfetch, which already operates in the country, said the partnership would combine its expertise in luxury with JD.com’s logistical and technical capabilities, driving brand awareness, traffic and sales in the Chinese market.
As part of the partnership, JD.com has become one of Farfetch’s largest shareholders, investing $393m (£313m). Founder and CEO Richard Liu is also set to join the Farfetch board.
“As part of our major luxury push, we could not have found a stronger online partner than Farfetch,” Liu said. “We have always believed that the long-term trend of Chinese ecommerce is towards quality over price and this partnership with Farfetch further extends our lead in the battle for the future of China’s upwardly mobile consumers.”
Farfetch founder José Neves added: “This partnership addresses the market’s challenges by combining the Farfetch brand and curation with the scale and influence of the foremost Chinese ecommerce giant.”
In May last year, Farfetch raised $110m (£75.6m) in funding to fuel its growth in Asia.