Farfetch, the luxury fashion platform, has announced a joint venture with logistics company Clipper Logistics to develop a global e-fulfilment solution specifically tailored for the luxury industry. The collaboration, known as FarfetchClipper, aims to bolster Farfetch’s existing Fulfilment by Farfetch offering and revolutionize logistics services in the luxury sector. The joint venture will handle product inventory from Farfetch’s group of companies as well as other luxury brands, focusing on meeting the complex and demanding requirements of the global luxury goods industry.
By combining Clipper’s expertise in online logistics and technical solutions with Farfetch’s carrier and duty management systems, the joint venture plans to offer a world-class global fulfilment solution that caters to the unique needs of luxury businesses. The launch of this partnership is expected in early 2022, subject to regulatory approvals, with initial services available in key regions across Europe, Asia, and North America. Future expansion is also on the agenda.
The joint venture will be jointly owned by Farfetch and Clipper, with both companies having an equal share. Logistics has become increasingly crucial for businesses due to the rise of e-commerce and the complexities of managing global supply chains. As a result, many companies are appointing logistics leaders to their senior teams and seeking specialist external firms to handle their logistics operations. Similar to Richemont’s recent collaboration with Amazon Web Services for IT infrastructure, luxury fashion businesses are acknowledging the value of partnering with experts in areas beyond their core competencies.
Luis Teixeira, Farfetch’s Chief Operating Officer, expressed enthusiasm about the joint venture, highlighting the importance of providing value-added services tailored specifically to the needs of high-end brands and boutiques. Teixeira emphasized the advantages of offering a consistent global logistics service and solutions for high-value goods through the partnership. The joint venture will also enable stock to be stored close to customers through an expansive warehousing network.
Steve Parkin, Executive Chairman of Clipper Logistics, acknowledged the ongoing transformation within the luxury goods sector and emphasized the unique integrated offering that the partnership will create. By combining Clipper’s market-leading technology and expertise with Farfetch’s global brand and operational knowledge, the joint venture aims to provide a comprehensive international solution for luxury stock fulfilment.
Useful links:
– Farfetch
– Clipper Logistics
