An article from JD.com’s blog discusses the new partnership between JD.com’s Toplife and Farfetch. Farfetch’s platform focuses on the luxury fashion industry. This new strategic alliance will allow JD.com, China’s largest retailer, the opportunity to have access to over 3,000 brands. The goal of this partnership is to provide a ‘Premier Luxury Gateway to China.’ The article mentions that this special strategic agreement involves Toplife merging into Farfetch China. After this merge is complete, all 300 million of JD.com’s customers will have access to over 3,000 brands, with over 1,000 of those brands being luxury brands.
As explained in the article, Jingdong and Farfetch have had an already successful business relationship prior to this new alliance. The two companies have worked together since July of 2017. Jingdong, one of Farfetch’s largest shareholders, has allowed Farfetch to utilize their new and innovative logistical capabilities throughout China. This business relationship has also allowed Farfetch to really see into the behaviors of luxury customers throughout China through JD.com insights. The article explains that Jingdong has been very involved in the luxury market in China. JD.com plans to expand its luxury brand partnerships even further.
Farfetch is looking forward to this alliance with JD.com. The article discusses that the company believes that their Level 1 access with Jingdong will help to increase the success of luxury brands throughout China. The article mentions both companies believe that this partnership brings about positive outcomes for all parties involved. The Chief Strategy Officer of JD.com, Jon Liao, mentions that this business strategy is going to really help JD.com further its success in the luxury fashion industry. JD.com’s Toplife has turned into a popular choice among the luxury consumers in China. Toplife has had the opportunity to work with a number of the top luxury brands in the world.