June 22, 2017 / 6:06 AM / in a month

China's JD.com to invest $397 mln in UK fashion retailer Farfetch

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BEIJING, June 22 (Reuters) - Chinese e-commerce firm JD.com Inc on Thursday said it will invest $397 million in UK fashion retailer Farfetch UK Ltd.

JD will become a major shareholder in the firm following the transaction, and its CEO Richard Liu will join Farfetch's board, it said in a statement.

JD says it will leverage the UK retailer to expand its luxury sales channels in China. (Reporting by Cate Cadell; Editing by Himani Sarkar)

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