BEIJING: JD.com Inc has bought a stake in London-based online fashion retailer Farfetch for US$397mil, in the Chinese e-commerce company’s largest overseas investment.
The deal seals an alliance between China’s second-largest e-commerce player and the online fashion shop, which is trying to boost its presence in one of the world’s fastest growing markets for upscale goods. JD chief executive officer Richard Liu will join the start-up’s board and both companies will work to grow sales in China.
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