Online Chinese giant Alibaba Group Holding Ltd is in advanced talks to invest nearly US$300 million in online luxury fashion retailer Farfetch Ltd, the Information reported on Monday, citing people familiar with the matter. Shares of London-based Farfetch jumped about 16% to $32.59 following the news.
The two companies are also in talks to create a Chinese joint venture, the report said here, adding that Swiss based luxury group Richemont, which has teamed up with Alibaba to create mobile applications, is also considering investing in Farfetch alongside the Chinese e-commerce giant.
Terms of the current and past deals with Tencent and JD would not prevent Alibaba from investing in Farfetch, the Information said, citing a source.
CHANEL is also an important shareholder in Farfetch.
Farfetch Fall Winter 2020 fashion collections
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