Launched in early 2022, subject to regulatory approval, the platform will offer online fulfillment services in key markets in Europe, Asia and North America, with further growth expected in the medium term. Both companies will each hold a 50% stake in the new venture.
The two companies combine Clipper’s expertise in complete end-to-end online logistics and technology solutions with Farfetch’s carrier and job management systems, as well as deep expertise and relationships in the high-end industry, with Clipper and Farfetch in particular being joint media. The statement describes the needs of luxury companies.
Farfetch, an electronic retailer of luxury fashion, and Clipper Logistics, a logistics company, have collaborated to form a joint venture (JV) to promote electronic fulfillment of luxury fashion globally. The joint venture will offer logistics products in stock from Farfetch’s corporate group, including Browns and the Newguard Group, along with other luxury brand products.
“We have had a very successful relationship with Clipper over the years. We are pleased to take this opportunity to create a dedicated logistics service. The very specific added value needed for high quality. We believe there are gaps in service, including the ability of end brands and boutiques to consistently handle logistics through one global service and provide solutions for high value products such as watches and luxury jewelry. Our joint venture with us will fill this gap. We will ensure closer inventory to our customers through our global warehousing footprint. ” Farfetch COO, Luis Teisheira.
“The luxury sector is undergoing a transformational phase, and we’re excited to expand our relationship with Farfetch and meet these new demands with our global electronic fulfillment solutions,” he said. Clipper, Executive Chairman, Steve Parkin..
Fiber2Fashion News Desk (KD)
UK Farfetch & Clipper Logistics Form JV for Luxury Electronic Fulfillment
Source link UK Farfetch & Clipper Logistics Form JV for Luxury Electronic Fulfillment