- Angela Gonzalez-Rodriguez |
The online fashion startup strengthens its marketing division with the acquisition of the company CuriosityChina, an agency specialized in amplifying premium and luxury brands through digital platforms in China.
The London-based firm seeks to strengthen its commitment to new technologies while raising its presence across Asian markets. The acquisition of CuriosityChina will give Farfetch's partner brands "a point of entry into China through services adapted to that market," emphasises Jose Neves, CEO of Farfetch. Neves further adds that "the strength of this union removes blockages for an effective approach and lasting to digital luxury in China."
CuriosityChina, "a point of entry into China" for Farfetch
CuriosityChina, which has a list of clients from more than 80 brands and companies, "offers the best solutions available in the market to international brands that want to expand to China or reach potential Chinese customers that are going out to other markets", as underlined in a Farfetch statement on Friday.
With the acquisition of CuriosityChina, "Farfetch combines knowledge and significant investment in technology, electronic commerce and operations, with the best practices in the Customer Relationship Management (CRM) social and digital marketing of CuriosityChina, to offer its partners a new set of 'plug-and-play' services through its Black and White business unit".
The company led by the Portuguese José Neves has preferred not to disclose the price of the operation. The deal confirms Farfetch’s plans of continuing to bet on Asian markets. It’s worth recalling that about a year ago, the Chinese e-commerce giant JD.com invested 397 million dollars (341.4 million euros) in Farfetch.
"This acquisition marks another important milestone for Farfetch, an exceptional improvement of our presence in China, and a further step in our mission to be the world's leading platform for the luxury fashion industry," said Giorgio Belloli, Chief Commercial and Sustainability Officer of Farfetch.
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Photo:farfetch official website