Chinese e-commerce giant Alibaba and the luxury goods group RICHEMOND Switzerland, will invest 1,100 million dollars in luxury fashion retailer online Farfetch, founded in 2007 by the Portuguese José Neves. Its headquarters are located in London and has offices in major capitals of the world.
The site has had a remarkable growth in recent years and this new investment has the possibility of expanding its reach to the 757 million consumers of ALIBABA.
The purpose of investors is to develop FARFETCH in the Chinese and Asian market in general, taking into account its potential. Only the Chinese market for luxury goods will account for half of global sales in 2025. Currently, experiencing a strong recovery after the pandemic Covid-19, in particular through e-commerce. Major international brands like VERSACE, PRADA, JIMMY CHOO, COACH, LOUIS VUITTON, HERMES etc. They have reported positive results in China, which allow them to compensate for the losses in the European and US market, hit by the pandemic.
