Alibaba’s reported $300m investment in Farfetch reaffirms that the company is best positioned in the luxury market. Farfetch rose as much as 21%, the most intraday since Aug. 14 before closing 12% higher at $32. A global company based in the U.K., Farfetch offers a tech-forward platform for luxury goods, in a growing operation covering both online and physical retail. The business serves customers in more than 190 countries, including China where Alibaba is based.