Farfetch buys Chinese digital marketing agency Curiosity China

 In News

Portuguese clothing unicorn Farfetch has purchased CuriosityChina, a Chinese digital marketing agency.

According to Bloomberg, the purchase will enable Farfetch founder José Neves to extend his company’s footprint in China, selling luxury items on CuriosityChina’s application WeChat.

The purchase price has not bee revealed but it will help Farfetch expand sales of luxury clothing and accessory articles on the Chinese mobile message service WeChat which has over 1Bn users in China.

The purchase of the Chinese technology company comes one year after the e-commerce company JD.com, with headquarters in China, invested €356 million in Farfetch.

Since then, the luxury article on-line store has expanded its footprint in the Chinese market at a time when rumours were circulating that the company was preparing to float on the stock market.

In a communiqué, Farfetch has confirmed the transaction stating that, “CuriosityChina has a growing list of clients of over 80 brands and companies”.

According to Farfetch, the deal with now help it to “expand in China and reach potential Chinese clients that are themselves expanding to other markets.”

According to Bloomberg, the boutiques that use the Farfetch platform will be able to create their own on-line digital shops platforms on WeChat while Farfetch will also be able to sell its luxury clothing items directly on its own channel on the application.