London-based fashion technology group Farfetch will merge its Chinese business with the ecommerce platform run by internet giant JD.com, as it looks to tap into a growing trend among the country’s consumers to buy luxury goods at home.
JD.com invested $397m in Farfetch in 2017, but continued to run its own luxury ecommerce platform. Now the companies see greater value in joining their operations under the Farfetch brand, with JD.com handling logistics.
“Both parties came to the conclusion that it was better to merge into one single consumer-facing brand,” said Farfetch founder Jose Neves in an interview.
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