Johann Rupert’s Richemont, the luxury goods group that owns the Cartier brand, has announced a joint venture with online  luxury retailer Farfetch and e-commerce giant Alibaba as it seeks to tap into China’s rapidly growing demand for luxury goods.

China recently overtook the US as the group’s most lucrative market, with Richemont saying on Friday it and Alibaba would invest a collective $1.1bn (R17.3bn) in Farfetch, which will launch its shopping channels on Alibaba’s e-commerce platforms...

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