UK's Farfetch & Clipper Logistics form JV for luxury e-fulfilment

The platform will launch in early 2022, subject to regulatory approvals, and will provide online fulfilment services in important European, Asian and North American markets, with plans to grow further in the medium term. Both companies will have a 50 per cent stake each in the new venture.

The companies aim to combine Clipper's expertise in full end-to-end online logistics and technical solutions with Farfetch's carrier and duty management systems and deep expertise and relationships in the luxury industry, to offer a world-class, global fulfilment solution specifically focused on the needs of luxury businesses, Clipper and Farfetch said in a joint media statement.

"We've had a very successful relationship with Clipper for a number of years and are delighted to take this opportunity, creating a dedicated logistics offering. We believe there is a gap with respect to the very specific value-added services required for high-end brands and boutiques, including being able to handle logistics consistently through one global offering, and provide solutions for high-value goods, such as watches and fine jewellery. Our joint venture with Clipper will bridge this gap. It will also enable us to move stock closer to the customer through a global warehousing footprint,” said Farfetch COO Luis Teixeira.

“The luxury goods sector is going through a period of transformation and we’re delighted to extend our relationship with Farfetch to meet these new demands with a global e-fulfilment solution,” said Steve Parkin, executive chairman, Clipper.

Fibre2Fashion News Desk (KD)