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Tuesday, January 19, 2021

Farfetch: Farfetch plans to terminate partnership with JD.com, says source – Latest News

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Online luxury fashion retailer Farfetch Ltd will cease operations with JD.com , after receiving investment from Alibaba Group and Swiss group Richemont, a source with knowledge of the matter said.

The two marketplaces reached a strategic partnership in 2017 which saw JD.com invest $397 million in Farfetch. Farfetch merged its China sales platform with JD.com’s in 2019 and its store on the Chinese platform is still operational.

JD.com will remain a shareholder in Farfetch even after their partnership is terminated, the source said. JD.com did not immediately respond to a request for comment.

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