Farfetch is a British-Portuguese online luxury fashion retail platform that sells products from over 700 boutiques and brands from around the world. The company was founded in 2007 by the Portuguese entrepreneur

José Neves José Manuel Ferreira Neves (born June 1974) is a Portuguese billionaire and the founder of Farfetch, a global luxury fashion online platform. Early life José Neves was born in June 1974. He grew up in Porto, Portugal, where his grandfather own ...

with its headquarters in

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and main branches in

Lisbon Lisbon (; pt, Lisboa ) is the capital and largest city of Portugal, with an estimated population of 544,851 within its administrative limits in an area of 100.05 km2. Lisbon's urban area extends beyond the city's administrative limits w ...

and

Porto Porto or Oporto () is the second-largest city in Portugal, the capital of the Porto District, and one of the Iberian Peninsula's major urban areas. Porto city proper, which is the entire municipality of Porto, is small compared to its metropo ...

. There are many offices worldwide in

Guimarães Guimarães () is a city and municipality located in northern Portugal, in the district of Braga. Its historic town centre has been listed as a UNESCWorld Heritage Sitesince 2001, in recognition for being an "exceptionally well-preserved and ...

Braga Braga ( , ; cel-x-proto, Bracara) is a city and a municipality, capital of the northwestern Portuguese district of Braga and of the historical and cultural Minho Province. Braga Municipality has a resident population of 193,333 inhabitants (in ...

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and

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. The e-commerce company operates local-language websites and mobile apps for international markets in English, Spanish, French, Japanese, Chinese, Arabic, German, Portuguese, Korean, Italian and Russian. Farfetch has offices in 14 cities and employs over 4,500 staff.

History

Farfetch was founded in 2007 by José Neves. Farfetch announced its acquisition of London boutique retailer Browns in May 2015. This boutique is run independently from Farfetch by CEO Holli Rogers who joined the business in July 2015. Rogers was the former fashion director of online retailer Net-A-Porter. Farfetch developed the proprietary business units Farfetch Black & White and Store of the Future in 2015. In June 2017, it was announced that JD.com Inc. had bought a stake in Farfetch for $397 million; the Chinese e-commerce company’s largest overseas investment. In September 2018, the company went public. In October 2021, Farfetch launched its in-house fashion brand, ''There Was One''. In April 2022, Farfetch announced the acquisition of Wannaby Inc.

Management

Farfetch is led by José Neves, the founder of the business.

IPO

In September 2018, Farfetch (FTCH.N) listed on the New York Stock Exchange (NYSE), pricing shares above the estimated targeted range leading to a valuation of over $5.8 billion. The IPO raised $885 million for the company after the issue of 33.6 million new shares. Early investors in Farfetch including Vitrurian Partners and Advent Venture Partners, sold up to 10.6 million shares. It was reported that Neves will net $1.2 billion from the IPO. On 24 September 2018, animal rights activist organization

PETA Peta or PETA may refer to: Acronym * Pembela Tanah Air, a militia established by the occupying Japanese in Indonesia in 1943 * People for the Ethical Treatment of Animals, an American animal rights organization * People Eating Tasty Animals, a ...

announced that they had purchased shares that would allow them to attend annual shareholder meetings and stop the company from selling fur products.

Current operations

Farfetch achieves approximately 10 million site visits per month and ships to customers in almost 190 countries. As of September 2014, "annual sales of merchandise through the Farfetch site…surpassed £167 million." In December 2018, Farfetch acquired online sneaker platform, Stadium Goods, for $250 million. In February 2019, Farfetch agreed to merge its Chinese business with JD.com. In August 2019, Farfetch acquired New Guards Group, the parent organisation of

Off-White Shades of white are colors that differ only slightly from pure white. Variations of white include what are commonly termed off-white colors, which may be considered part of a neutral color scheme or yellow that looks like brown. In color theor ...

designer label for US$675million. Immediately following the purchase, Farfetch's shares plunged by over 40 percent . In November 2020, Farfetch entered into a joint partnership with

Richemont Compagnie Financière Richemont S.A., commonly known as Richemont, is a Switzerland-based luxury goods holding company founded in 1988 by South African businessman Johann Rupert. Through its various subsidiaries, Richemont produces and sells j ...

and Alibaba. Alibaba and Richemont jointly invest $600 million in Farfetch, taking a combined 25% stake in Farfetch’s Chinese ventures. In January 2022 Farfetch was reported to acquire

based retailer Violet Grey for an undisclosed amount.

Awards and accolades

Farfetch and its representatives have received a number of industry and e-commerce awards: * Winner: Best New E-tailer Awards – The Drapers E-tail Awards * Winner: CEO of the Year (José Neves) – Digital Masters Awards

References

{{Authority control 2007 establishments in the United Kingdom Online retailers of the United Kingdom Companies listed on the New York Stock Exchange 2018 initial public offerings

History

Management

IPO

Current operations

Awards and accolades

See also

References