Yahoo Finance Clipper Logistics teams up with Farfetch on luxury fashion deliveries and returns venture
Clipper Logistics has teamed up with fashion retailer Farfetch to launch a luxury goods specialist delivery and returns business with big growth potential, as well-heeled shoppers increasingly buy online.
The joint venture, expected to launch early next year, will provide extra supply chain support for digital firm Farfetch at a time when retailers industry-wide are facing higher shipping costs and delays.
Clipper already works in the UK and Holland with Farfetch, which sells products on its site on behalf of brands such as Jimmy Choo and Prada.
But the new partnership will also provide services to retailers that are not sold via Farfetch, or firms on the website but that currently do their own warehousing.
London-headquartered Farfetch and Clipper will both have a 50% stake in the venture, which is looking to expand further into the Far East and US.
Luis Teixeira, chief operations officer at Farfetch, said: “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.” He added the venture will help Farfetch “move stock closer to the customer through a global warehousing footprint”.
David Hodkin, finance chief at Clipper, said the high value luxury market “is going through a period of transformational change” in terms of people buying online.
The sector has been much slower to adapt to online, but brands saw strong digital sales during the pandemic as consumers became even more open to buying designer goods from websites.
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