Under the terms of the arrangement, Toplife, JD.com’s luxury arm, will merge into a new venture called Farfetch China. Also, Farfetch will get a “Level 1” entry point on the JD app, giving the 300 million JD customers access to upwards of 1,000 luxury brands and boutiques.
“We are delighted to build on our relationship with JD.com, and bring to market an unrivaled 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,” he said.
“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.”
Luxury is a key part of JD’s business, and a large part of JD Fashion. The company aims to offer its customers an “end to end” luxury experience, all the way up to “white glove” delivery through JD Luxury Express. JD plans to continue to partner with luxury brands and offer them to its customers.
Jon Liao, chief strategy officer of JD.com, said the partnership is fortuitous for both companies. “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.”