Clipper Logistics (CLPLF) and Farfetch (FTCH) announced they have agreed to establish a joint venture company, formalizing the creation of an e-commerce fulfilment solution for luxury brands. The joint venture “will create a unique logistics offering for inventory from Farfetch’s group of companies including Browns and New Guards Group, as well as products from other luxury brands, that will specialize in the complex and highly demanding fulfilment requirements of the global luxury goods sector,” the companies said in a statement.
“By combining Clipper’s expertise in full end-to-end online logistics and technical solutions with Farfetch’s carrier and duty management systems, and deep expertise and relationships in the luxury industry, the joint venture will offer a world-class, global fulfilment solution specifically focused on the needs of luxury businesses,” they added.
The joint venture, which is expected to launch in early 2022 subject to relevant regulatory approvals, will offer online fulfilment services in luxury territories in Europe, Asia and North America with plans to further expand in the medium term. Farfetch and Clipper will each own 50% of the joint venture.