JD.com is continuing its promise to provide top tier luxury fashion for its 300 million plus consumers by merging with Farfetch Limited. The merger is between JD.com’s independent luxury platform Toplife and the existing infrastructure Farfetch has in China. The collaboration is being touted as the “Premier Luxury Gateway to China” and will bring over 3,000 luxury fashion brands to Jingdong customers. JD.com started down the luxury brand road about a year ago with the formation of Toplife. The Chinese e-commerce retailer has since opened the doors to numerous luxury brands not previously available in China. Farfetch has striven since its formation to create a large marketplace for name brand and private boutiques.
The main goal to open up access to new regions. The collaboration with Jingdong brings unprecedented access to Farfetch’s extensive network. It is being viewed as a win-win from both sides, and is the first of many upcoming collaborations JD.com is planning to make. The merger grants Farfetch priority one status on Jingdong’s network. Consumers accessing JD.com will be able to hop over to Farfetch’s network. Once there they can shop the large assortment of name brands, visit virtual boutiques, and make purchases. JD.com’s top level delivery service will then bring the products to the consumer. Farfetch bolsters its consumer offering to over 300 million, and Jingdong rakes in profit as it is a primary shareholder. “We are happy to extend our relationship with JD.com,” Farfetch founder and CEO Jose Neves stated, “we will provide a unequaled solution to China’s fashion market.”
Founded by Richard Liu Qiangdong in 1998 JD.com has been involved in retail long before becoming a virtual institution. Starting out as a franchise of storefront shops selling optics, Jingdong went online in 2004. Since then it has extended its service, product offerings, and business extensively. JD.com serves numerous regions throughout Asia and Europe. It is also a frontline innovator in the world of autonomous delivery and operation. JD.com is known around the world for its groundbreaking commercial drone service. It continues to grow and expand to offer consumers the very best in e-commerce.