Chanel and Farfetch have signed a multiyear innovation partnership that will see the companies collaborate to develop a series of digital initiatives in-store and online.
The companies have been working together for several months on merging Farfetch’s expertise in digital innovation with Chanel’s expertise in luxury retailing to create enhanced customer experiences in this Store of the Future bid.
José Neves, founder and CEO of Farfetch, calls the company’s future vision “Augmented Retail”, in which the physical boutique experience and the advantages of online and digital competitor come together. Speaking of the Chanel partnership, he says: “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.”
The vision provides in-store experiences that are personalized to the customer with the use of data and other digital initiatives. Farfetch’s launch of its Store of the Future division in early 2017 promised to enable the “offline cookie” for retailers, by connecting customers in the physical space with data relevant to their own behaviors thanks to a universal login system. It has been working in beta with Browns East since, and is soon to launch in Thom Browne in New York also.
With this partnership, Chanel will customise their own version of the Farfetch Store of the Future operating system, the specific terms and details of which are undisclosed. The first example of it will launch in a France-based boutique later in 2018.
Bruno Pavlovsky, Chanel’s fashion president, says: “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 list of shareholders.