Farfetch expands its portfolio: acquires Off-White licensee for 675 million

Farfetch keeps growing. The ecommerce platform, founded by the businessman José Neves, has expanded its portfolio with the acquisition of New Guards, licensee of Off-White for 675 million dollars.

“The addition of New Guards’ brand platform brings a creative and industrial dimension to our suite of capabilities which, combined with our community of more than 650 boutiques, enables us to power and promote both new and existing creative names in the luxury industry to build the brands of the future”, Neves pointed.

 In the last couple of months, the platform has extended its portfolio with the acquisition of several brands. Last March, the group started participating in the pure player The Modist and in December it acquired the marketplace of sneakers Stadium Goods.

Farfetch sales in its last fiscal year (ended 31st December) increased 56%, up to 703 million euros (787.5 million dollars). However, the British company had red numbers valued in 181.5 million euros (203,3 million dollars).