Deals
JD.com Pays $397 Million for Stake in Fashion Shop Farfetch
- China’s No. 2 online retailer seals its biggest overseas deal
- JD and Farfetch are targeting richer Chinese consumers
A Farfetch U.K. 'Store of the Future' pop-up exhibition in London.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
JD.com Inc. has bought a stake in London-based online fashion retailer Farfetch for $397 million, in the Chinese e-commerce company’s largest overseas investment.
The deal seals an alliance between China’s second-largest e-commerce player and the online fashion shop, which is trying to boost its presence in one of the world’s fastest growing markets for upscale goods. JD Chief Executive Officer Richard Liu will join the startup’s board and both companies will work to grow sales in China. JD said it will refer web traffic and help on deliveries, while Farfetch’s customers get to use its partner’s local payments and lending services.