Chinese e-commerce giant Alibaba is in advanced discussions to invest nearly $300 million in London-based online luxury fashion retailer Farfetch, people familiar with the matter said, as China emerges as the most important battleground for luxury brands.
Alibaba, whose shopping apps have 874 million monthly active users in China, and Farfetch, a popular marketplace for independent fashion boutiques, also are in talks to create a Chinese joint venture, the people said.
