In the e-commerce world, the space of fashion is slowly growing. JD.com is one of the entities that continue to make fashion items available to millions of people across Asia. Due to this unmatched commitment of making different fashion items available to different clients across different countries, different brands have approached JD.com as a distribution partner. Farfetch is the first entity, this year, to sign an agreement with this Chinese giant. This partnership is specifically for the premier luxury market, which according to pundits is on the increase. How will this profound deal change in Chinese luxury consumption? How will Farfetch benefit from this deal? First, according to the deal, Farfetch will get access to JD.com market.
In most Asia countries, the company remains the undisputed leader in the virtual market. With this access to the Asia market, getting a market for luxury products is also not farfetched. According to statistics, China is among the few countries in the world that have a big number of luxury consumers and therefore a huge market. Pundits predict that this is the best deal Farfetch could get in Asia. The English company wanted to make an entry in this market in different ways. From this month going forward, it will be interesting to see how Farfetch will transform this market with the help of JD.com.
The deal with this English company is one of the most important deals JD.com has signed this year. The management of this Chinese company understands that partnerships in the world of trading are crucial. Apart from this partnership with Farfetch, the company has another partnership with small traders in Asia. According to the management of JD.com, the partnership with small business owners in China is aimed at helping these entities reach more people and therefore make more sales. Although the program is still in the enrolment stage, it is successful, and pundits refer to it as brilliant. In conclusion, 2019 for the Chinese entity is a season for working with different stakeholders with the aim of giving the Chinese consumers many options and better products. The management team points out that that is one of their 2019 projections.