Alibaba to invest in online luxury retailer Farfetch: report

/ / News

Chinese e-commerce giant Alibaba Group Holding Ltd. is in “advanced” talks to invest nearly $300 million in online luxury fashion retailer Farfetch Ltd. , The Information said Monday, citing people familiar with the matter. Alibaba has made inroads in the retail business recently, announcing last month investments that included $3.6 billion in Sun Art Retail Group Ltd., which operates supermarkets in China, and taking a 6.1% stake in Dufry AG, planning on a joint venture with the Swiss-based travel retailer to develop the business in China.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.