"The London-based fashion e-commerce platform is aiming to extend its reach in the growing luxury sneakers and streetwear market, as millennials account for a growing percentage of luxury sales and competitors are engaged in a digital land grab," writes Chantal Fernandez.
Farfetch is locked in a race against MatchesFashion and Richemont’s Yoox Net-a-Porter to add new services and technologies through investments, acquisitions and internal R&D, notes Fernandez.
Shares of Farfetch are up over 6% since the deal was announced.
Previously: Farfetch adds sneaker marketplace to the mix (Dec. 12)
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