腾讯花1.25亿美金为Farfetch站台，BAT撑腰的奢侈品电商战能打起来吗？

 继京东投资3.97亿美元之后，腾讯也入局了。<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>36氪获悉，英国奢侈品电商Farfetch于1月30日宣布获得腾讯和美国投资公司seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>Dragoneer各1.25亿美元的投资。这一投资通过seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>购买Farfetch发行的可转换高级票据方式进行，有效期从2020年3月31日至2025年12月31日，到期后将以12.25美元的初始价格转换为股票。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>Farfetch 方面称，此次融资主要用于补充公司目前的流动资金。截至2019年年底，该公司现金及等价物余额约为3.2亿美元。此外，该笔融资有助于公司的长期战略，尤其是中国市场的增长。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>此前，Farfetch已经在腾讯旗下微信平台上开展了多项业务，包括官方微信公众号、微信商城和微信小程序等。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>事实上，这不是Farfetch第一次寻求本土合作。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>2017年6月22日，京东向 Farfetch 投资3.97亿美元，成为Farfetch最大的股东之一。去年，京东旗下奢侈品电商 Toplife 并入 Farfetch 中国，Farfetch 也获得了京东 app 的一级入口。此外，Farfetch还收购了中国的seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>数字营销公司CuriosityChina。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>如今，作为京东大股东的腾讯出手，更为Farfetch布局中国市场助了一臂之力。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>中国的奢侈品市场有多大？

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>据贝恩咨询发布的《2019年全球奢侈品行业研究报告》指出，2019年全球奢侈品销售达3100亿美元，中国贡献35%。seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>随着消费方式的转变，线上奢侈品平台也在受到更多的青睐。2018年，中国奢侈品线上营业额为53亿美元，较2017年增长约37%，占中国奢侈品市场销售份额的10%以上。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>对此，中国的BAT们自然不会袖手旁观。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>以电商起家的阿里巴巴在去年10月宣布，将和全球最大奢侈品电商平台Yoox Net-a-Porter成立合资公司，合资公司主要致力于国内奢侈品消费市场。阿里巴巴方面提供技术和物流，合资公司方面则提供两个分别专注男装和女装的电商平台 NET-A-PORTER 和 MR PORTER  。seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>更早之前，阿里巴巴在2017年于天猫上线了自己的奢侈品平台Luxury Pavilion，面向天猫经过大数据筛选后的5亿优质用户，该平台目前已拥有近10万年消费额超过百万的高端会员。而在2018年，阿里巴巴则以高价seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>投资了Ordre——一家奢侈品在线批发技术公司。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>腾讯系以社交起家，对于国内奢侈品市场的关注多围绕旗下的微信产品展开。线上方面，朋友圈广告成为奢侈品牌亮相的新选择。有微信小程序的加持，奢侈品牌更容易完成一站式数字营销。例如Burberry通过微信小程序限时限量售卖B Series。在线下实体店方面，Burberry在seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>去年11月宣布与腾讯尝试“社交零售”。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>字节跳动（ByteDance）作为BAT巨头的新秀，同样没有落后。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>2019年9月3日，字节跳动与seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>奢侈品电商寺库联合发布了“奢头条”计划。合作将围精准营销、深度技术打通、高端品牌方广告投放及高端消费人群数据洞察报告等模块进行深入业务合作。据字节跳动方面消息，截至2019年7月，字节跳动旗下产品全球总DAU超过7亿，总MAU（月活跃用户）超过15亿，其中抖音DAU超过3.2亿。巨大的流量池对于电商平台的吸引力不言而喻。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>虽然全球奢侈品销售总量和线上销售都在增长，但奢侈品电商平台Farfetch的日子并不好过。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>2018年9月Farfetch刚上市时，其市值一度冲破80亿美元。去年8月，Farfetch在发布第二财季业绩数据，销售额同比大涨42%至2.093亿美元，但净亏损从上年同期的1170万美元扩大至8960万美元。在宣布业绩的同时，Farfetch以6.75亿美元收购了潮牌集团New Guards Group。这一举动引起了业界和资本的怀疑，有分析师认为一方面Farfetch至今仍未盈利，另一方面NGG作为品牌管理集团，与Farfetch的电商零售没有直接关联。怀疑的结果就是Farfetch股价一度下跌逾40%。seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>虽然之后因亏损收窄股价有所增长，但距曾经的理想状态仍有很大差距。

<p style="margin: 0px 0px 26px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-stretch: inherit; font-size: 16px; line-height: inherit; vertical-align: baseline; font-family: “PingFang SC”, “Lantinghei SC”, “Helvetica Neue”, Helvetica, Arial, “Microsoft YaHei”, 微软雅黑, STHeitiSC-Light, simsun, 宋体, “WenQuanYi Zen Hei”, “WenQuanYi Micro Hei”, sans-serif; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box; word-wrap: break-word; color: rgb(38, 38, 38); text-align: justify; text-indent: 0px;”>seline; -webkit-font-smoothing: antialiased; word-break: break-word; box-sizing: border-box;”>中国的奢侈品消费能力一再被证明，着急盈利的Farfetch此时再度出手，也许就是盼望着能扳回一局。