Retail in Asia

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Chanel invests in Farfetch for digital retail push

Chanel 1

In an effort to become more digitalized, Chanel has tapped e-commerce firm Farfetch, consolidating the partnership with a minority stake purchase in the UK retailer.

The French couture house looks to develop digital communication such as chats to connect Chanel clients with store assistants.

SEE ALSO : Farfetch’s Store of the Future

Privately owned, Chanel is known for its reluctance to digitize or stock itself in multi-brand retailers, adding to the allure and rarity of the brand.

With the Farfetch deal, the label will still not sell its luxury fashion and apparel online, but will solely work with the platform on digital innovations linked to customer services in the coming years, said Bruno Pavlovsky, Chanel’s fashion president.

Smartphone applications — allowing people to select their preferences and sizes on their phones before visiting a store, are in works and will let shop assistants better cater to individual needs, Pavlovsky said.

Source : Farfetch

Meanwhile, in store, shoppers will be able to preselect items as they browse, rather than wait for a sales associate to help them.

The deal is the first of its kind for Farfetch. In 2015, Farfetch launched the Store of the Future division, and acquired London boutique Browns, serving as a playground for innovations in omni-channel retail technology and ‘augmented retail’.

It’s the latest move from a luxury brand to tap Farfetch and other digital savants like it, in a bid to lure younger or more teched-out shoppers.

SEE ALSO : Farfetch yearly sales surge 74%, 2016 losses widen on investments

Burberry announced a new deal with Farfetch that will see its full range being made available to shoppers in 150 countries on the Farfetch platform. It also means that its entire global inventory will be available to e-buyers for the first time.