BEIJING/SHANGHAI, Nov 6 (Reuters) - Online luxury fashion retailer Farfetch Ltd will cease operations with JD.com , after receiving investment from Alibaba Group and Swiss group Richemont, a source with knowledge of the matter said.
The two marketplaces reached a strategic partnership in 2017 which saw JD.com invest $397 million in Farfetch. Farfetch merged its China sales platform with JD.com’s in 2019 and its store on the Chinese platform is still operational.
JD.com will remain a shareholder in Farfetch even after their partnership is terminated, the source said. JD.com did not immediately respond to a request for comment. (Reporting by Sophie Yu and Brenda Goh; Editing by Miyoung Kim and Edmund Blair)
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