- Farfetch can now provide plug-and-play access for luxury brands to expand rapidly in China via an integrated platform servicing Chinese consumers via Web, App, WeChat Store and Mini-Programs
- Using the Farfetch platform, brands will be able to have a unified view of all of their inventory (in China or cross-border), be able to manage all of their customer touchpoints whether the customer is at home or travelling, and be able to offer an unrivalled service tailored to the sophisticated Chinese consumer
Friday 20 July 2018, London, and Beijing; Farfetch, the leading global technology platform for the luxury fashion industry, today announces the acquisition of CuriosityChina, a digital and technology business that focuses on amplifying premium and luxury brands across digital platforms in China. With a strong and growing client list of over 80 luxury and premium brands and companies, CuriosityChina offers best-in-market services for top international brands wanting to expand in China or reach Chinese people travelling to other markets.
Following the acquisition, CuriosityChina’s best-in-class capabilities in social CRM and digital marketing will combine with Farfetch’s expertise and significant investment in technology, e-commerce and operations, to offer brand partners through Black & White Solutions, a new plug-and-play suite of services. The combination will offer brands access to the best of both businesses, providing unrivalled solutions to the critical issues that brands face when entering the Chinese market, such as a complex technology ecosystem and difficulties in developing digital marketing solutions.
Farfetch Black & White Solutions was launched in 2015 to allow luxury brands to leverage the technology that has made Farfetch the leading global technology platform for the luxury fashion industry. From direct integrations allowing for full stock visibility, superior e-commerce marketing capabilities and the full suite of customer service and cross-border logistics, the acquisition of CuriosityChina gives Farfetch’s partner brands an entry point into China via services adapted to the market.
Among solutions on offer, brands will now be able to:
- Design and build (with Farfetch Black & White Solutions or on their own) their brand website, have access to omni-channel features and international capabilities, enabling shipping to 190 countries in 12 languages, including China
- Launch their brand iOS App, fully integrated with their brand website, with full international support
- Operate their WeChat account with CuriosityChina’s unique, enterprise level, CRM capabilities for the Chinese customer – in China, and when Chinese customers are travelling or living abroad
- Create full WeChat Stores and state-of-the-art WeChat “Mini-Programs”
- Seamlessly integrate with the Farfetch.com global marketplace
The strength of the combination removes roadblocks to an effective, long-term approach to digital luxury in China.
CuriosityChina will service the Chinese market and ensure that clients of Farfetch Black & White Solutions have access to the full plug-and-play suite of services. In addition, Farfetch plans to make the full suite of services available to the full brand portfolio of Farfetch partner brands and CuriosityChina clients who request them, extending the benefits of this world-class technology to a range of businesses from global conglomerates to independent designers.
The acquisition will see all employees of CuriosityChina join Farfetch, with Judy Liu, a Co-Founder of CuriosityChina, joining Farfetch as Managing Director, China. In addition, Alexis Bonhomme, also a Co-Founder of CuriosityChina, will become VP Commercial, China of Farfetch and Arthur Shui, Co-Founder of CuriosityChina will become Head of Technology Innovation for Farfetch, China.
Giorgio Belloli, Farfetch’s Chief Commercial and Sustainability Officer, said: “The solution that we can now offer luxury brands gives them the enviable combination of maintaining their independence and brand personality and at the same time benefitting from peerless digital marketing capabilities by leveraging the power of the Farfetch platform alongside CuriosityChina’s extensive expertise. China is a notoriously difficult market for brands to crack, but we are excited to be offering brands a huge advantage in succeeding in this market.”
“We are thrilled to welcome their extremely talented team to Farfetch and I am honoured to have such a well-respected entrepreneur as Judy Liu join as our Managing Director for China, in addition to Alexis Bonhomme bolstering our management team with his extensive digital expertise and market knowledge. This acquisition marks an exciting milestone for Farfetch, an exceptional enhancement of our presence in China, and the next step in our mission to be the leading global technology platform for luxury fashion.”
Judy Liu, Co-Founder of CuriosityChina, commented: “We could not have found a stronger or better partner in luxury and e-commerce than Farfetch, and we are confident that Farfetch is the right owner to ensure the continued growth and success of CuriosityChina. I am humbled to be joining such a pioneering business that represents the future of the luxury industry.”
Alexis Bonhomme, Co-Founder of CuriosityChina, said: “In their quest to reach and engage with the Chinese luxury consumer, brands are facing a very fragmented offer in the market. The combination of Farfetch’s e-commerce and operations capabilities with CuriosityChina’s digital marketing and social CRM expertise is now offering a truly unique solution for premium and luxury brands. This new approach closes the loop, all in a seamless integrated way, allowing brands to invest in digital marketing with measurable return on investment and growing sales.”