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Farfetch has secured a massive nine-figure funding round from Chinese e-commerce giant

UK fashion technology firm Farfetch has sealed a massive $397m investment from a Chinese ecommerce giant.

The London-headquartered company has attracted funding from JD.com, with the company’s Founder and Chief Executive Officer, Richard Liu, joining Farfetch’s board as a result.

It now means Farfetch, which was founded in 2007, has raised $701m in funding and comes just over a year after the business raised a similarly huge $101m Series F round from high-profile investors including Temasek Holding.

Founder and Chief Executive, Jose Neves, commented: “This partnership addresses the market’s challenges by combining the Farfetch brand and curation with the scale and influence of the foremost Chinese e-commerce giant.

“This strategic partnership will provide brands a seamless, immediate access to the luxury consumer and Chinese luxury shoppers with access to the greatest selection of luxury in the omni-channel way of life they have already fully embraced.”

Liu added: “As part of our major luxury push, we could not have found a stronger online partner than Farfetch.

“We have always believed that the long-term trend of Chinese e-commerce is towards quality over price and this partnership with Farfetch further extends our lead in the battle for the future of China’s upwardly mobile consumers.

“We look forward to deepening our relationships with Farfetch and luxury brands in the months and years ahead.”

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