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Farfetch, Chalhoub Group sign JV agreement
By our business bureau February 03, 2018
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DUBAI: Farfetch, the leading global platform for the luxury fashion industry, and Chalhoub Group, the leading partner for luxury across the Middle East, announced a joint venture agreement to connect Chalhoub Group’s unrivalled expertise and knowledge of retail, distribution and marketing services for the luxury industry across the Middle East with Farfetch’s e-commerce, technology and logistics platform. The announcement comes on the heels of Farfetch’s partnership with JD.com, announced last year, which is now operationally live, fuelling Farfetch’s expansion in China.

The partnership with Chalhoub Group will build on Farfetch’s already strong customer base in the region and allow the platform to reach more customers in the Middle East luxury market. Farfetch plans to join forces with the Chalhoub Group in the Middle East region: to launch in Arabic language in the first half of 2018; curate goods for the local consumer; and increase local supply by onboarding Chalhoub Group’s network of own concept stores and other partner franchises.

In addition, Farfetch will maximize its VIP offering, with personal and curated service for customers who want support to find the items they seek. For customers in the Middle East, Farfetch’s luxury know-how and global reach combined with Chalhoub Group’s regional presence, excellence in service and operational capabilities, will offer an unparalleled luxury shopping proposition. This joint venture will see Farfetch open its first office in the region, in Dubai, giving it a local presence in each of the top ten luxury markets in the world. The company’s presence in Dubai reflects its long-term commitment to the region. After the launch of several e-commerce websites in the Middle East by Chalhoub Group, this partnership marks a new step toward achieving its digital transformation strategy and is in total alignment with its Luxury DNA and customer centric approach. It will increase and expand the Group’s current offering for the affluent and modern Middle Eastern customer in the region that is well travelled, tech-savvy and digitally connected.

Jose Neves, Founder and CEO of Farfetch, said, “As one of the largest luxury markets in the world, the Middle East is of great strategic importance to Farfetch. Our joint venture with Chalhoub Group represents our commitment to being thoughtful and thorough with regards to our expansion efforts in the region, which is an opportunity for our business and the brands and boutiques we work with around the world.”

“It’s also great for our customers, bringing lovers of luxury fashion in the Middle East and beyond even greater choice, and incredible product that they can’t find anywhere else from around the world. Chalhoub Group is the best partner we could have on board, with its incredible history, deep market knowledge and experience with the joint venture model. It’s fantastic to be working with them as we expand our efforts in the Middle East.”

Patrick Chalhoub, CEO of Chalhoub Group, commented, “Being consumer centric, we wanted to bring new proposals to our clients while accelerating our digital journey.”
 

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