1. News
February 20, 2018

Chanel buys minority stake in Farfetch

French fashion retailer Chanel has acquired a minority stake in UK-based online fashion retail platform Farfetch.

French fashion retailer Chanel has acquired a minority stake in UK-based online fashion retail platform Farfetch.

Financial details of the deal have not been disclosed by neither company.

With the new partnership, Chanel intends to create a new digital experience for its clients through a new chat process that will be directly linked with its store assistants. Customers will be also able to use the technology to streamline their preferences and communicate them to store personnel.

“With the new partnership, Chanel intends to create a new digital experience for its clients through a new chat process that will be directly linked with its store assistants.”

The technology will allow Chanel store assistants to provide a personalised customer shopping experience when they enter the store, as well as reduce shopping times by instantly providing the required product.

However, the French firm does not intend to sell its products through Farfetch’s online retail platform but will be working with the latter to improve its customer service through new digital solutions.

Last week, UK-based luxury brand Burberry entered a partnership with Farfetch in order to expand its reach to more than 150 countries and reinforce omnichannel leadership.

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Farfetch is backed by various investors such as Advent, Index Ventures, Condé Nast International, Vitruvian, DST Global, Eurazeo and JD.com.