Farfetch

Farfetch is a luxury ecommerce platform that was founded in 2008 by the Portuguese businessman José Neves. It started as an online distributor of the stock of small multibrand stores from around the world. The group is based in London and through its platform, sells stock of several luxury companies. Chinese ecommerce giant JD.com bought a stake in its capital in June 2017.

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The fashion retailer had a turnover of 6.6 billion euros online last year. High-street rivals H&M and Gap generated online less than €6 billion each last year.

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The British fashion platform has registered one red in its books worth 373.6 million dollars against the losses of 2018 which stood at 155.5 million dollars.

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The investment firm, Felix Capital, plans to invest the 300 million dollars raised for its strategy that focuses on the trend of direct-to-consumer business.

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The operation has been carried out through the Italian luxury group New Guards Group, which also controls brands such as Off-White, Palm Angels or the newly acquired Ambush.

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Farfetch had red numbers of 85.4 million dollars, compared to losses of 77.2 million dollars in the same period of 2018 but CEO states the company is in path to profitability.

Through the collaboration, customers of the platform will be able to obtain store credit to spend on Farfetch products.

E-commerce British platform registered a 174 million pounds (224.1 million euros) billing in the first three months of exercise.

The Chinese e-commerce giant, which in 2017 invested 397 million dollars in the online luxury platform, will provide its 300 million users with access to Farfetch.

The new e-commerce platform of the department store company will start operations as of 2020 and will sell at a global scale. Currently, Harrods is boosting its sales worldwide, especially in Asia.

De Beers, Chopard, Tag Heur or Tiffany are some of the brands that will join the offering curated by the ecommerce platform, which has doubled its efforts in the high-end field.