Retailing, Franchising, and Consumerism Business Intelligence in China

JD's Luxury E-commerce Platform To Shut Down In July 2019

According to official information from JD, the group's independent luxury e-commerce platform Toplife has merged into British luxury e-commerce operator Farfetch and it will formally shut down services on July 21, 2019.

At present, Toplife has posted a notice about its service shutdown on its official website and app. Users can be redirected to Farfetch website and the download link for Farfetch app.

Prior to this, JD announced in February that its Toplife platform would be merged into Farfetch's Chinese business and JD app will establish a first-tier portal for Farfetch. It is said that JD sold Toplife to Farfetch for USD50 million.

Farfetch was established in 2008 and the company gained an investment of USD397 million from JD in June 2017, making JD the largest shareholder of Farfetch. On September 21, 2018, Farfetch was formally listed on New York Stock Exchange.

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