Online luxury fashion retailer Farfetch has terminated operations with JD as of December 31, 2020.
Farfetch had been building its China business with the help of JD, which invested USD $397 million in the retailer in 2017. Farfetch launched its first external store on JD… which is now closed.
Farfetch has now received a massive $1.1 BILLION strategic investment from Alibaba Group and Swiss group Richemont and cut ties with JD.
Farfetch will launch luxury shopping channels on Alibaba’s platforms to tap into the company’s massive user base of 757 million. Alibaba and Richemont will cooperate to develop omni-channel retail solutions for Farfetch.
Check out the graphic to learn more about JD’s bumpy road in the luxury fashion category….
#China #ChinaBusiness #Luxury #LuxuryRetail #JD #Tmall #InternationalBusiness #Ecommerce #Partnership #Fashion