JD.com, which Recode describes as the “Amazon of China,” has just invested nearly $400 million into the luxury e-commerce retailer Farfetch. JD.com founder and CEO Richard Liu will also join Farfetch’s board. This will drastically amp up Farfetch’s presence in China, which is already the world’s largest luxury market.
Farfetch is shaping up to be a powerful force in luxury e-commerce. Last week, Condé Nast International announced that it would be killing off its e-commerce site Style.com and, instead, investing $20 million in a partnership with Farfetch.
[Photo: Igor Ovsyannkov]ES