What is Farfetch? Farfetch Review

Founder

José Neves, the founder of Farfetch, is a man who has an inextricable bond with fashion. As early as the 1990s, José Neve had already been involved in the fashion business through his shoe design business SWAER. In 2001, he founded B Store, a physical store specializing in selling fashion labels. When Neves went to Paris Fashion Week in 2007 to sell his B Store brand, he came up with the idea of ​​starting a fashion e-commerce platform.

Group composition

The Farfetch Group now includes: Farfetch.com, a high-end fashion boutique online shopping platform; Farfetch Black & White, a white-label e-commerce solution for luxury brands; and "Store of The Future", a customized technology tool set that combines the online and offline retail worlds to enhance customer journey satisfaction for brands and boutiques.

Basic Introduction

Farfetch's website and mobile app are available in 10 languages, and it has offices in 11 cities around the world. Through more than 700 partners in 40 countries, Farfetch's fast delivery service now reaches more than 190 countries and provides same-day delivery in 10 cities.

Service Advantages

Farfetch's diverse and thoughtful services are derived from the concept of customer experience first. Our website offers 12 language options, multilingual customer service support, and corresponding fast delivery, including same-day delivery services covering 18 cities around the world, and F90 express delivery that arrives 90 minutes after placing an order - all of this is to create a perfect shopping experience. At the same time, the trend inspiration and customized recommendations carefully planned by the fashion team allow customers to easily find their own personality style among Farfetch's massive fashion products.

Financing

In July 2010, Farfetch completed a US$45 million Series A financing round led by Advent Venture Partners.

In January 2012, Farfetch completed a US$18 million Series B financing round led by Index Ventures.

In March 2013, Farfetch completed a US$20 million Series C financing round led by Condé Nast.

In May 2014, Farfetch completed a $66 million Series D financing round led by Vitruvian Partners. Participants included Chinese angel investor Chen Lin, partner of United Venture Capital, and Farfetch's previous investors Condé Nast Group and Advent Ventures.

In March 2015, Farfetch received US$86 million in Series E investment, led by Digital Sky Technologies and Yuri Milner, and followed by Vitruvian Partners and Condé Nast.

In May 2016, Farfetch announced that it had just received a round of US$110 million in Series F funding, led by Temasek, IDG Capital Partners and Eurazeo, and followed by Vitruvian Partners.

In June 2017, Farfetch received a strategic investment of US$397 million from JD.com, a Chinese e-commerce giant, becoming one of its largest shareholders. At the same time, Liu Qiangdong will join the Farfetch board of directors. Farfetch still faces consumers as an independent brand and cooperates with JD.com in marketing, logistics and technology.

Development History

In October 2014, Farfetch established offices in the UK, the US, Portugal, Brazil and Tokyo.

In 2015, the transaction volume on the Farfetch platform reached US$500 million. The company makes money by taking a certain commission from each transaction. Farfetch will mainly use this round of financing to further expand its international market.

In April 2017, Farfetch and Gucci launched an exclusive partnership to launch an ultra-fast delivery experience in 10 cities across four continents, with orders arriving within 90 minutes of being placed.

In June 2017, Farfetch announced that it had become a global content and commerce partner with publishing giant Condé Nast, bringing a seamless connection between editorial content and shopping experience to fashion lovers.

It was listed on the New York Stock Exchange in September 2018, with a financing scale of US$880 million and a valuation of approximately US$6.2 billion.

References

• 1. The stock price of luxury e-commerce company Farfetch plummeted after heavy losses. Its listing was investigated by two law firms: Sina [cited on 2019-08-16T16:00:00.000Z]
• 2. Another layout in the fashion field! JD.com leads the investment of US$19 million in Pomelo, a Thai online fashion brand: Investment Circle [cited on 2017-10-31T16:00:00.000Z]