Richemont and Chinese ecommerce giant Alibaba are rumoured to be in talks to invest in Farfetch, a London-based online marketplace for luxury goods.
The Information, a respected technology industry title, reports that Alibaba is in talks to buy shares in Farfetch worth $300 million.
Richemont’s interest was also reported, but without specifics. The group already owns Net-A-Porter, Mr Porter and Watchfinder.
Investment from Alibaba and Richemont would likely be part of a strategy to extend Farfetch’s reach into the Chinese market.
Shares in Farfetch rose by 13% on the rumour, increasing its market value to $10.9 billion.
Farfetch currently offers new and pre-owned watches from around 35 brands and has even launched collaborations with the likes of Zenith on exclusive limited edition watches for its customers.