Alibaba and Richemont invest in Farfetch for China push
Ecommerce giant Alibaba and luxury goods powerhouse Richemont are to invest in upscale online retailer Farfetch as the trio launch a Chinese partnership.
Alibaba and Richemont will invest $300 million each in Farfetch Limited and $250 million each in Farfetch China.
The deal gives them a combined 25% stake in a new joint venture that includes Farfetch’s marketplace operations in China.
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