Farfetch steps up luxury’s online competition and introduces hard jewellery
De Beers, Chopard, Tag Heur or Tiffany are some of the brands that will join the offering curated by the ecommerce platform, which has doubled its efforts in the high-end field.
Farfetch gains foothold in fine jewellery and watches. The British ecommerce company has just launched a new section fully-focused on these product categories, which will sell products from brands such as De Beers, Chopard, Tag Heuer, Pomellato, Ulysse Nardin or Tiffany, among others.
With this move, Farfetch aims to fight off other market competitors like Yoox Net-a-Porter or Moda Operandi. On the other hand, the platform assures that, by partnering with them, these brands can approach a millennial audience, according to WWD.
Farfetch has reached new tie-ups within the luxury market by establishing strategic alliances, such as the one reached a few weeks ago with Harvey Nichols. Last year, the second largest ecommerce group in China, JD.com, invested 397 million dollars (356 million euros) in Farfetch, a deal which gave access to CEO Richard Liu to the group’s board of directors.
Chanel also took a minority stake in the business. As part of the operation, both parties will jointly develop new tools to enhance the on- and offline store experience. Moreover, Burberry partnered with Farfetch to market its products in up to 150 countries worldwide.
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