France’s Chanel acquires minority stake in UK’s Farfetch

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France’s Chanel acquires minority stake in UK’s Farfetch

Mar ’18

Courtesy: Farfetch

Chanel, known for its tweed suits and quilted leather handbags, now has a minority stake in British online retailer Farfetch as part of a tie-up to develop digital services like chats to connect the latter’s clients with store assistants, both the companies announced recently. Private firm Chanel is yet to roll out web sales of its clothing and leather goods.

Under the deal, the label will work with the platform in the coming years on digital innovations linked to customer services, according to Chanel’s fashion president Bruno Pavlovsky.

These include smartphone applications allowing people to flag their preferences and sizes online before entering a store, implying assistants can cater to their needs, or help them locate an item spotted in a magazine for instance, a news agency report quoted him as saying.

The online retailer’s shopping platform connects buyers to luxury fashion items from more 700 boutiques worldwide. (DS)

Fibre2Fashion News Desk – India

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