JD.com’s Toplife platform merges with Farfetch

Farfetch JD.com
// JD.com to merge Toplife platform with Farfetch
// JD.com and Farfetch have been partners in other areas since 2017
// New agreement means Toplife, which JD.com launched in 2017, will be folded

JD.com’s luxury ecommerce platform Toplife is set to merge with Farfetch China as part of a new partnership agreement between the two firms.

The agreement will effectively see JD.com close down its Toplife venture, which it launched in 2017, as part of ambitions to expand in the luxury goods market where it is competing with the Luxury Pavilion page under Tmall, which is owned by Chinese rival Alibaba.

The partnership will also see products from over 3000 luxury brands made available for JD.com’s 300 million app users, thanks to Farfetch’s network of 1000 brand and boutique partners.

Farfetch and JD.com were already partners in areas such as logistics, technology and marketing prior to the announcement of the new agreement yesterday.

“We are delighted to build on our relationship with JD.com and bring to market an unrivalled solution for luxury brands to succeed in the Chinese market”, Farfetch chief executive José Neves said.

JD.com chief strategy officer Jon Liao said: “We are combining the best of global and local market expertise in the luxury segment.”

When JD.com and Farfetch first established a relationship in 2017, the Chinese online retailer became one of the latter’s largest stakeholders.

JD.com founder and chief executive Richard Liu also joined Farfetch’s advisory board.

While Farfetch is London-based, its shares are listed in New York.

Farfetch’s interest in growing in China has never been a secret. Last year, it acquired CuriosityChina, a marketing agency aimed at international players looking to enter the Chinese market.

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