Farfetch launches flagship store on JD.com as partnership strengthens
Farfetch has announced the launch of its flagship store on JD.com, two years after the Chinese ecommerce giant bought a $397 million (£313.59 million) stake in the retailer.
JD.com’s 300 million global customers will now have immediate access to Farfetch’s catalogue through JD.com’s app, which includes over 1000 luxury brands and boutique partners.
Since JD.com purchased a significant stake in the luxury fashion retailer in June 2017, Farfetch has had access to its vast logistics network and local expertise in the Chinese market.
The pair’s partnership was further solidified in March this year when it was announced that JD.com’s luxury ecommerce platform Toplife was to merge with Farfetch China.
The agreement effectively saw JD.com close down its Toplife venture, which it launched in 2017, as part of ambitions to expand in the luxury goods market where it is competing with the Luxury Pavilion page under Tmall, which is owned by Chinese rival Alibaba.
“I am delighted to be able to offer JD.com’s customers direct access to the broadest selection of luxury fashion online, and to be able to offer luxury brands the premier luxury gateway to China for executing on their digital strategy in China,” Farfetch’s China managing director Judy Liu said.
“We have been able to do this, in significant part, thanks to the enthusiasm and support from our brand partners. Brands crave ever-better access to the Chinese market, and we are thrilled to deliver this for them.”
Farfetch’s founder and chief executive added: “These changes continue to boost our capabilities and sharpen our strategic execution with dedicated focus on key initiatives.
“They reflect the importance of our strategic priority to build our brand – blending both the ‘art’ of building a fashion brand and the ‘science’ involved in building world-class data-driven demand generation capabilities.
“The changes also speak to the rapid growth of Farfetch Platform Solutions in recent months, following the acquisition of CuriosityChina, our innovation partnership with Chanel and our agreement with Harrods to create an eCommerce offering for the department store.”