London-based Farfetch, which unites various independent fashion boutiques, has announced a strategic partnership with China’s Alibaba Group and Swiss group Richemont to expand its footprint across China and accelerate the digitisation of the global luxury industry.
Farfetch raises about €929.9M in total
As part of the global partnership, Alibaba and Richemont will jointly invest $600M (approx €507.2M) – $300M each (approx €253.6M) – in private convertible notes issued by Farfetch Limited.