Richemont and Farfetch in ‘advanced’ talks to further partnership

richemont and farfetch in advanced talks to further partnership

Sumary of Richemont and Farfetch in ‘advanced’ talks to further partnership:

  • Luxury fashion and lifestyle conglomerate Richemont has announced that “further progress” has been made in the development of an enhanced partnership with the online retail platform, Farfetch.
  • Richemont, whose portfolio consists of the likes of Chloé, Net-a-Porter and Cartier, stated in the announcement that the advancement puts the two companies on track to creating “a neutral, industry-wide platform”, centred around omnichannel retail technologies and supporting the digitisation of the luxury industry.
  • New discussions regarding the partnership could see the two take further steps into merging, with Richemont Maisons possibly joining the Farfetch marketplace.
  • Richemont stated that there has already been a number of parties indicating interest in the investment opportunity, with the ultimate goal of the multibrand retailer becoming a neutral platform with no controlling shareholders.

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