Alibaba and Richemont invest in Farfetch for China push

Farfetch founder Jose Neves said the deal was a milestone

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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