José Neves, the CEO of the e-commerce company Farfetch, stated to ECO that their partnership with the Chinese JD.com will be of "strategical importance".
As a worldwide leading platform in the sector, Farfetch’s growth plans keep rising. For that reason, José Neves states that even if the IPO is a plan to “consider in the future”, right now they are focused on growth. “We are going through a very intense investment period, our focus is to have our business grow and become a global leader in e-commerce fashion shopping experience”, the Portuguese CEO told ECO.
The Chinese from JD.com invested 356 million euros in the company founded by José Neves in a business revealed last Thursday, meaning they became the largest shareholders of the luxury platform. The partnership aims to allow both companies to increase their response capacity to China’s demand of luxury items — a market which is assessed in 80 billion dollars.
"As we have been considering, the IPO is something we may consider in the future, but right now, we are going through a very intense investment period, our focus is to have our business grow.”
“China is a critical and strategical market for Farfetch, because on the luxury goods segment, the Chinese consumer spends the highest amounts”, assured José Neves. Therefore, the partnership with JD.com is “of strategical importance for us to become a leading platform in China”.