Richemont: strategic partnership with Alibaba and Farfetch
(CercleFinance.com) - Richemont, Farfetch and Alibaba have announced a global strategic partnership to provide luxury brands with better access to the Chinese market and accelerate the digitisation of the global luxury industry.
In particular, Alibaba will launch the Farfetch luxury shopping chains on Tmall Luxury Pavilion and Luxury Soho will also invest in the new Farfetch China joint venture and in Farfetch Limited.
Meanwhile, Richemont will invest in the new Farfetch China joint venture and in Farfetch Limited. The group will also explore other opportunities to work closely with Farfetch.
The market seems delighted - the Richemont share is up nearly 8% on Friday afternoon.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
In particular, Alibaba will launch the Farfetch luxury shopping chains on Tmall Luxury Pavilion and Luxury Soho will also invest in the new Farfetch China joint venture and in Farfetch Limited.
Meanwhile, Richemont will invest in the new Farfetch China joint venture and in Farfetch Limited. The group will also explore other opportunities to work closely with Farfetch.
The market seems delighted - the Richemont share is up nearly 8% on Friday afternoon.
Copyright (c) 2020 CercleFinance.com. All rights reserved.