Farfetch

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Farfetch

logo
legal form Limited
ISIN US30744W1071
founding 2008
Seat London, UK
management José Neves
Number of employees 4,532 (2019)
sales $ 142.3 million (2019)
Branch Designer fashion
Website farfetch.com
As of June 3, 2020

Farfetch is an international e-commerce company that sells designer fashion from boutiques around the world. It was founded in 2008 by the Portuguese entrepreneur José Neves.

history

Farfetch was founded in 2008 by the Portuguese entrepreneur José Neves, who had been in the fashion start-ups since he founded his shoe design company SWEAR in the mid-1990s. The first foray into retail followed in 2001 with the opening of the London B Store. The company acted as a retail, wholesale and fashion licensing company in one and placed up-and-coming young labels in boutiques. During the Paris Fashion Week, Neves developed his idea of ​​a virtual trading place for boutiques. He had met many boutique owners who all complained that business was bad because the local customers were insufficient and the boutiques had no experience of online trading. In 2013, Neves recalled in the Daily Telegraph : They had amazing taste levels but they were having to play it increasingly safe. (German: "These people had an incredible sense of fashion, but were increasingly forced to be careful when shopping.") For this reason, Neves decided to set up the Farfetch website to enable independent boutiques to compete to survive while maintaining their stores and visual identity. In 2017 Natalie Massenet , the founder of Net-a-Porter , joined the company. That same year, JD.com invested 397 million in a strategic partnership. US dollars in Farfetch. The share price fell sharply in August / September 2019 and the ratings on Trustpilot and other rating platforms have recently been conspicuously poor.

Companies

The business model differs from other internet mail order companies in that the Farfetch website functions as a virtual marketplace where smaller boutiques from around the world offer their goods on a commission basis. In addition to the company headquarters in London , Farfetch also has offices in New York City , Los Angeles , Guimarães , Porto , Lisbon , São Paulo , Moscow , Shanghai , Hong Kong and Tokyo . The company operates websites in English, French, Japanese, Mandarin, Portuguese, Korean, German, Russian and Spanish, and serves customers in 190 countries. As of January 2017, Farfetch employed more than 1,000 people worldwide.

Farfetch divides its labels into two categories: high-priced “luxe” labels as well as newcomer and experimental labels, which are summarized under “lab”. A third category with modern everyday fashion was added to “lab” in September 2014 to make it easier for customers to navigate the website and shop.

Farfetch's main source of income is luxury brands such as Valentino , Saint Laurent , Givenchy and Comme des Garçons , but lesser-known labels are also important to Farfetch's business model, whose marketing sees the company's position as "a step left of center" because Farfetch is broad of goods and is interesting for a “wide range of customers”.

By sponsoring the British Fashion Council's “London Showrooms” , Farfetch supports labels outside the mainstream and helps bring British designers to international renown. In addition, Farfetch has promoted 15 labels from its Brazilian partner boutiques with its “Destination Brasil” project in order to bring unknown local designers to global customers.

Individual evidence

  1. ^ Jose Neves - Founder & CEO @ Farfetch. In: crunchbase . Retrieved February 3, 2017 .
  2. ↑ Farfetch imprint. Retrieved June 3, 2020 .
  3. ↑ a b Farfetch Annual Report 2019. Retrieved June 3, 2020 .
  4. ↑ Jose Neves - Founder & CEO @ Farfetch | crunchbase. Retrieved February 3, 2017 .
  5. ↑ José Neves . In: Drapers . ( drapersonline.com [accessed February 3, 2017]).
  6. ↑ What if the internet turns out to be the savior of the high street? - Telegraph. Retrieved February 3, 2017 .
  7. ↑ Heinemann, Gerrit,: Digitization of retail with ePace: innovative e-commerce business models and digital time advantages . Springer Gabler, 2013, ISBN 978-3-658-01299-1 .
  8. ↑ Farfetch partner with JD.com to boost Chinese Business . In: The Business of Fashion . June 22, 2017 ( businessoffashion.com [accessed August 17, 2018]).
  9. ↑ Together, JD.com and Farfetch open a gateway to bring luxury labels to China . In: Der Tagesspiegel Online . June 22, 2017, ISSN  1865-2263 ( tagesspiegel.de [accessed August 17, 2018]).
  10. ^ Farfetch share . finanzen.net. Retrieved December 10, 2019.
  11. ↑ UK leads world's ecommerce exports as fashion brands travel well . ( campaignlive.co.uk [accessed February 3, 2017]).
  12. ↑ Simone Preuss: Farfetch reaches one millionth customers . ( fashionunited.de [accessed on February 3, 2017]).
  13. ^ Suzy Menkes: Condé Nast Invests in e-Commerce . In: The New York Times . March 3, 2013, ISSN  0362-4331 ( nytimes.com [accessed February 3, 2017]).
  14. ↑ Scarlett Kilcooley-O'Halloran: Farfetch.com Signs Sponsorship Deal With BFC . In: British Vogue . ( vogue.co.uk [accessed February 3, 2017]).
  15. ↑ Top partner shop | Farfetch on Sneakersnob.de . In: Sneakersnob . ( sneakersnob.de [accessed on February 3, 2017]). Top partner shop | Farfetch on Sneakersnob.de ( Memento of the original dated February 3, 2017 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / www.sneakersnob.de