Fund Update: Farfetch

Investors in the Elevation Capital Global Shares Fund also own shares in Farfetch Limited [FTCH], a global digital marketplace that connects brands, retailers and consumers which integrates delivery partners from around the world. 

On 5 November 2020, Farfetch, Alibaba Group, Richemont (which the Fund also owns) and Artemis announced a global strategic partnership to provide luxury brands with enhanced access to the China market place and further accelerate the digitisation of the global luxury industry. By leveraging each company’s respective expertise and reach, this partnership represents the next step in achieving the integration of online presence and in-person retail necessary to remain at the forefront of the luxury goods industry. 

Farfetch will launch luxury shopping channels on Alibaba’s platforms, Tmall Luxury Pavilion and Luxury Soho expanding Farfetch’s global luxury platform to Alibaba’s 757 million customers offering luxury brands a multi-brand solution through a single integration with Farfetch enhancing brand awareness. For consumers, this partnership represents an expansion in options to shop for their preferred brands.