CLG.L Share News (CLG)

(Sharecast News) - Clipper Logistics and luxury fashion platform Farfetch have agreed to establish a joint venture to create a global e-commerce fulfilment solution for luxury brands.
The JV will create a logistics offering for inventory from Farfetch's group of companies including Browns and New Guards Group, as well as products from other luxury brands.

"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 focussed on the needs of luxury businesses," Clipper said in a statement.

The JV, which is expected to launch early next year, will offer online fulfilment services in key luxury territories in Europe, Asia and North America with plans to further expand in the medium term. Farfetch and Clipper will each own 50%.

Luis Teixeira, chief Operations officer at Farfetch, said: "We've had a very successful relationship with Clipper for a number of years and are delighted to take this opportunity, creating a dedicated logistics offering for luxury brands.

"We believe there is a gap with respect to the very specific value-added services required for high-end brands and boutiques, including being able to handle logistics consistently through one global offering, and provide solutions for high value goods, such as watches and fine jewellery. Our joint venture with Clipper will bridge this gap. It will also enable us to move stock closer to the customer through a global warehousing footprint."