Farfetch, the technology platform for the luxury fashion industry, has announced the expansion of their strategic partnership with JD.com in order to create the “premier luxury gateway to China” for luxury brands.
Under the agreement, JD.com’s Toplife will merge into Farfetch China while Farfetch’s 3,000 luxury brands will be made available on the JD.com app.
The partnership builds on the existing relationship between Farfetch and JD.com which started in July 2017. Since then, Farfetch has leveraged JD.com’s logistics capabilities in China, as well as JD.com’s insights into the behaviors of China’s luxury consumers. JD is also one of Farfetch’s largest shareholders.
Farfetch has also recently strengthened its China business through its agreement to acquire CuriosityChina, a leading integrated marketing and social commerce company. Through this expanded agreement with JD.com, Farfetch said it will offer the full suite of Farfetch’s technology and logistics platform to brands wanting to reach luxury consumers in China.
José Neves, Founder, CEO and co-chairman, Farfetch said: “We are delighted to build on our relationship with JD.com, and bring to market an unrivalled solution for luxury brands to succeed in the Chinese market. We believe our Level 1 access with JD.com ‘closes the circle’ and will be transformational for the luxury industry’s digital landscape in China.
“With this agreement, and our previous strategic investments in China including our acquisition of CuriosityChina, we now offer luxury brands a one-stop solution to develop their digital strategies in accessing the engaged and sophisticated audience in this important market. Today we mark the launch of what I believe is the Premier Luxury Gateway to China.”
Jon Liao, chief strategy officer of JD.com, added: “This win-win collaboration is a key development in our ongoing relationship with Farfetch. We are combining the best of global and local market expertise in the luxury segment. This is an important step for JD.com in developing its global fashion and luxury ecosystem.
“In just over a year of operation, Toplife has worked with many of the world’s top brands, and has grown to become the platform of choice among China’s discerning luxury consumers and brands. Luxury is an integral part of our fashion offering, and we are excited to work together with Farfetch to create the ultimate destination for luxury shopping in China.”