Fartech and JD.com have recently completed a merger to help reach their respective goals. The company Fartech is the leading global technology entity for the luxury fashion industry. JD.com or Jingdong is the largest retailer in China. The two companies will now look to participate in future expansion. Part of this expansion will include providing a gateway to the top luxury brands in China. Under the current agreement, an entity known as Toplife will complete a merger into Fartech China. Once this is done, Fartech will then get a Level 1 entry point on JD.com’s app. As a result, JD.com will then be able to provide products to over 300 million customers that are offered in over 3,000 brands and from over 10,000 of the luxury brand partners.
This partnership will continue to build on an already successful relationship between both Fartech and JD.com and Jingdong. These two companies began working together in July of 2017. Since that year, Fartech has been able to leverage the logistic capabilities of JD.com within China. Jingdong and JD.com used its insight into consumer behavior to help Fartech reach out to customers as well as become one of the company’s largest shareholders. In an effort to strengthen its business in China, Fartech has acquired the entity CuriosityChina which is a leading marketing and social commerce company.
With this expanded agreement with JD.com, Fartech will not be able to offer an entire suite of brands that are looking to more efficiently reach Chinese consumers. As a result, there will likely be significant growth in the luxury products industry in China. The top executives of both Fartech and JD.com have expressed their satisfaction with this recent merger. They are both eager to work together and work towards making a positive impact in the retail industry. Executives of both companies believe that the merger will enable their respective companies to provide better access to luxury brands in China. The merger between the two companies will serve as an important step in making both companies stand out from the competition with luxury products in the Chinese retail industry.