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Richemont and Alibaba rumoured to be investing in Farfetch

Farfetch Wall Street

Richemont and Chinese ecommerce giant Alibaba are rumoured to be in talks to invest in Farfetch, a London-based online marketplace for luxury goods.

The Information, a respected technology industry title, reports that Alibaba is in talks to buy shares in Farfetch worth $300 million.

Richemont’s interest was also reported, but without specifics. The group already owns Net-A-Porter, Mr Porter and Watchfinder.

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Investment from Alibaba and Richemont would likely be part of a strategy to extend Farfetch’s reach into the Chinese market.

Shares in Farfetch rose by 13% on the rumour, increasing its market value to $10.9 billion.

Farfetch currently offers new and pre-owned watches from around 35 brands and has even launched collaborations with the likes of Zenith on exclusive limited edition watches for its customers.

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Tags : AlibabaFarfetchRichemont
Rob Corder

The author Rob Corder