The Gucci and Balenciaga Owner Terminates its Partnership With Farfetch Following Coupang Acquisition
Kering has cut ties with Farfetch, resulting in the removal of its prestigious brands such as Saint Laurent, Gucci, Bottega Veneta, and Balenciaga from the online marketplace. The termination prohibits the listing of these brands’ products for direct shipping from their respective warehouses.
In response, Farfetch has shared its intention to continue selling high-end brands on its platform without direct involvement from the brands themselves.
Farfetch’s previous plans for collaboration with the Neiman Marcus Group, which involved a substantial investment of $200 million in 2022, have been discontinued. Originally, there were intentions for the group to adopt Farfetch’s technological solutions. However, according to Retail Touchpoints, this partnership is no longer progressing. Additionally, Neiman Marcus has halted the availability of products from its Bergdorf Goodman store on the Farfetch platform.
The sale of Farfetch to the South Korean e-commerce giant Coupang has faced controversy, and some luxury brands no longer view the platform as a strategic partner. This sentiment was emphasized by Kering’s chief, Jean-Marc Duplaix, during a recent earnings call.
