• Chanel and Farfetch sign an exclusive innovation partnership deal to create a customised augmented retail experience in Chanel's boutiques
• Multi-year global partnership to develop a range of digital initiatives in-store and out-of-store
CHANEL, one of the world’s leading luxury companies operating in Fashion, Fragrance and Beauty, Watches and Fine Jewellery, and Farfetch, the leading global technology platform for the fashion industry, have announced an exclusive global multi-year Innovation Partnership deal which will see the two companies work together to develop a range of digital initiatives which will deliver an unparalleled customer experience both offline and online, in-store and out-of-store. The partnership is the first of its kind in the luxury retail industry.
The two companies have been collaborating for several months on how to bring together CHANEL’s expertise in luxury retailing and its focus on impeccable client service with Farfetch’s expertise in digital innovation and technology, leading to today’s announcement. CHANEL and Farfetch share a converging vision of the future of retail. Both believe technology today allows customers to expect ultra-personalised experiences in their real and digital lives and demand for those two worlds to be seamlessly connected.
Farfetch’s Augmented Retail vision provides the in-store experience of the future by giving insights of the customers’ preferences both in the boutique and overall. With this partnership, CHANEL will leverage Farfetch’s global technology platform to create its own Augmented Retail experience and enhance the boutique experience for customers, as the first of many initiatives the companies will collaborate on.
CHANEL strongly believes that engaging with customers in boutique thanks to the exclusivity of CHANEL's 8 yearly collections and the emotion they convey is a key pillar for an optimal customer experience. Jose Neves, Founder and CEO of Farfetch said: “It is truly an honour to be partnering with CHANEL to accelerate the development of technology-driven initiatives which will ensure they remain at the forefront of retail excellence and elevate the already unparalleled level of luxury experience for its clients that CHANEL is renowned for.
We believe the future of luxury fashion retailing hinges on reinventing the customer experience – both online and offline. We call this vision “Augmented Retail” – taking the magic of the physical boutique experience and bringing it together with the advantages of online and digital services. We have been investing more than anyone in technology and consumer insights to make this vision a reality.”
Bruno Pavlovsky, CHANEL's Fashion President, said: “We are very enthusiastic about this Innovation Partnership and look forward to implementing the first steps of our projects together. We want to offer our clients the opportunity to further experience the brand values and to feel something which is authentic and unique to CHANEL. We strongly believe that digital will never replace the feeling of being in a fitting room and trying on a CHANEL piece. We are confident that Farfetch's innovative technology will help us develop an even more outstanding customer journey by combining a great e-service offering with a genuine CHANEL boutique experience.”
As part of the partnership, CHANEL has invested in Farfetch, joining its existing shareholders.
