Stories on fashion and luxury you won't read elsewhere

Digital Luxury: 5-Online luxury retailers of the world, unite!

By Astrid Wendlandt
08/11/20
Digital Luxury – Episode Five: Online luxury retailers of the world, unite!
In the global chess game played by online luxury retailers, Farfetch this week emerged as a clear winner. The time for grand alliances predicted by industry observers has finally arrived. This is a good moment to forge partnerships: millions of locked-down luxury shoppers migrating online mean growth prospects have never been stronger. Farfetch announced late on Nov. 5 that it was joining forces with Chinese giant Alibaba to build a “winning online Goliath in China,” the world’s most important market for at least the next decade. Alibaba owns the Chinese online luxury shopper. By joining forces with Farfetch, East meets West. And the two companies will block Amazon’s ambitions in luxury and fashion beyond its U.S. borders.

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