Farfetch operates an online marketplace that connects luxury fashion brands, boutique retailers, and consumers from around the world. The platform allows users to buy and sell high-end fashion items, catering to a clientele that values quality and exclusivity. Farfetch partners with various luxury brands and boutiques, providing them with a digital space to showcase their products. The company generates revenue primarily through commissions on sales made through its platform, and it also offers additional services like digital marketing and logistics to help brands manage their online presence. A key aspect of Farfetch's business is its acquisition of companies like LUXCLUSIF, which enables it to enter the pre-owned luxury goods market. The goal of Farfetch is to create a comprehensive digital marketplace that enhances the shopping experience for luxury fashion consumers while supporting brands and retailers in reaching a global audience.

Condé Nast

Coupang

Temasek

JD.com

Groupe Artemis

Alibaba Group

Richemont

Advance Venture Partners

Advent Venture Partners

Vitruvian Partners

Index Ventures

Consumer Software

Consumer Goods

Farfetch

If the luxury eCommerce space is tumbling down, Mytheresa plans to come out on top.“I think there is an understanding in the market that the industry is consolidating, and that there are some winners and some losers,” Michael Kliger, the company’s CEO, told the Financial Times (FT) Sunday (May 5). “We believe, and the stock market certainly believes, that we are one of the winners.”The report said the Germany company — which is listed in New York — has seen its stock jump more than 30% this year. While its market value — $362 million — is down sharply from the $2.3 billion it reached when going public three years ago, the FT argued that’s an indication of where investors are putting their bets.“The valuation we received [at IPO] was sumptuous, generous, maybe was overrated … then we went into a situation where eCommerce started to become a bad word,” Kliger said.Following a difficult year for both eCommerce firms and the luxury sector, Mytheresa is “pivoting … as a company for sure and as a sector, I have confidence as well,” he added.Meanwhile, the company’s rivals have struggled. Farfetch was sold to Korean online retailer Coupang in order to escape bankruptcy, while Matchesfashion was put into administration by Frasers Group in March just three months after it was acquired.Another luxury group, Richemont, has spent years trying to offload its online retail division Yoox-Net-a-Porter.Meanwhile, PYMNTS last month examined the role trust plays in luxury brands’ relationships with their consumers.“Luxury shoppers may be willing to shell out quite a lot online for high-quality products, but only if they can trust that they are getting their money’s worth,” that report said.Despite the challenges facing these high-end retail platforms, their shoppers still want digital platforms from which to purchase premium products online.Research by PYMNTS Intelligence shows that 67% of luxury shoppers said stores should feature higher levels of digital integration. Additional research cited in the study found that online sales make up about a fifth of all sales in the luxury space.“Yet while luxury brands and retailers have had centuries of experience in creating immersive, highly curated brick-and-mortar experiences, the digital journey has not yet caught up,” PYMNTS wrote.“These stores often have elegant interiors, personalized services and attentive staff that contribute to the overall luxury atmosphere. Translating this ambiance to an online environment is challenging and requires innovative approaches to digital marketing and website design.”For all PYMNTS retail coverage, subscribe to the daily Retail Newsletter

Mytheresa Aims To Be ‘Winner’ Of Luxury Ecommerce Downturn

Officina Bernardi, the Italian luxury goldsmith atelier, announces the launch of a new global partnership with Farfetch.

Officina Bernardi Launches Its Hyper-Jewelry On Farfetch

South Korean eCommerce giant Coupang is seeing growing adoption of its latest products and services. Its fulfillment and logistics, grocery delivery and meal delivery offerings made gains during the first quarter, Bom Kim, founder and CEO of Coupang, said Tuesday (May 7) during the company’s quarterly earnings call. The company’s Fulfillment and Logistics by Coupang (FLC), which gives suppliers access to Coupang’s delivery infrastructure and network, saw a 130% year-over-year increase in units sold, Kim said

Coupang: Fulfillment Service Helps Merchants Double Sales In 90 Days

Clark joins from fashion platform Farfetch, where she was EVP of Communications for seven years.

Vue Names Chair; BBC Studios Adds To Exec Team; Canal+ Gets New CFO - Global Briefs

By integrating Wannaby's innovative solutions with Perfect Corp.'s state-of-the-art beauty tech solutions, the company is set to redefine the digital experience in the fashion and beauty sectors.

Perfect Corp. Acquires Fashion Tech Innovator Wannaby, Expanding Its Virtual Try-On Offering and Coverage in Luxury Fashion

Perfect Corp. plans to acquire Wannaby to expand Perfect’s virtual try-on technology solutions into new luxury market segments like shoes, bags and apparel. The company entered into an agreement with Wannaby’s current owner, Farfetch, to make the acquisition, Perfect Corp. said in a Monday (Dec. 23) press release. Wannaby provides virtual try-on technology and digitalization solutions for the fashion industry and has served more than 30 luxury brands, according to the release

Perfect Corp. To Expand Virtual Try-On Applications With Wannaby Acquisition

Cole joins from clothing retailer FARFETCH, where he worked for three years as Partner Success Manager, leading operations strategy and implementation for global marketplace partners.

Daily Research News Online

BBC Studios, the commercial arm of the BBC Group, today announced the appointment of Susannah Clark in the newly created role of Chief Communications and Marketing Officer.

BBC Studios appoints Chief Communications and Marketing Officer

Around the world, eCommerce companies look to grow their share of consumers’ overall retail spending.For Coupang, the real opportunity lies in boosting current customers’ spending more than gaining new shoppers.The multinational eCommerce company shared in its second-quarter 2024 earnings results, reported Tuesday (Aug. 6), that even amid a 12% year-over-year increase in active customers, the real growth driver has been the rising expenditure of those who are already engaged.“While new customers contribute to future growth, our growth today and tomorrow is powered primarily by the increasing spend of our existing customers,” Coupang founder and CEO Bom Kim told analysts on a conference call. “And we believe our future growth opportunity is massive and largely untapped because we still account for a small percentage of overall retail spend, even of our oldest and best customer cohorts. That’s why all of our customer cohorts continue to increase their spend, even our oldest and highest-spending cohorts.”Especially strong has been the performance of the company’s marketplace business. The segment has outpaced first-party sales for 13 consecutive quarters. The surge in marketplace sales, particularly among sellers that are small– to medium-sized businesses (SMBs), indicates a growing consumer preference for a wider variety of products and the increasing importance of platform diversity.If the United States is any indication, many consumers do indeed prefer third-party channels, per the PYMNTS Intelligence study “How Preferred Payment Availability Can Reduce Cart Abandonment.” The report, which drew from a survey of more than 3,500 U.S

Coupang Prioritizes Deepening Customer Engagement Over Acquisition

Yoox Net-A-Porter (YNAP) is reportedly exiting China amid weak consumer spending in that country. The Richemont-owned luxury eCommerce platform is moving to focus on its core and more profitable markets, Bloomberg reported Friday (June 14), citing an emailed statement from a Richemont spokesperson. The Net-A-Porter platform was launched in China in 2013 but was unable to gain market share in the country’s competitive eCommerce market. Its sister platform, Outnet, left China in 2015

Yoox Net-A-Porter Exiting China, Focusing On More Profitable Markets

Digital marketplace for luxury fashion items

Farfetch

Digital marketplace for luxury fashion items

Farfetch

Digital marketplace for luxury fashion items

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