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Farfetch Tag

17 Aug

Farfetch Is Officially Exiting Beauty

by Beautifaire101
Beauty, Featured
Farfetch Is Officially Exiting Beauty
Farfetch Inc. is cutting back — and so are its stockholders. Shares of the posh e-commerce platform plummeted 35.3 percent to $3.08 in afterhours trading after the corporate confirmed it’s exiting the wonder category, turned in a weak second quarter and cut its outlook for the yr. The posh fashion platform made its move into beauty just last yr, acquiring Violet Grey and tapping founder Cassandra Grey as an advisor.  The deal was followed by a broader rollout of beauty in April 2022, when greater than 100 prestige brands launched on the marketplace.  Given Farfetch’s deep relationships with most of the primary luxury brands — and the platform’s ambitions to be a one-stop luxe shop — the corporate saw potential to log right into...
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7 Jun

Latest Guards Group, Farfetch Collaborate With Lisa Folawiyo for

by Beauty Tips
Fashion, Featured
Latest Guards Group, Farfetch Collaborate With Lisa Folawiyo for
Farfetch and Latest Guards Group’s created brand There Was One, or TWO, has launched a collaboration with Nigerian clothier Lisa Folawiyo, available Wednesday on Farfetch. The collaboration features an eight-piece womenswear capsule and marks the primary partnership for TWO, fusing classic Folawiyo pieces and prints with TWO’s contemporary designs. The gathering showcases summer designs with a mixture of the signature Ankara fabric and custom prints, including the custom “hearts intertwined” print that originated from Folawiyo’s spring 2017 collection titled, “She wears her heart on his sleeve,” which celebrated the bond between two individuals. The print has been reimagined and incorporated into the capsule collection, adding a touch of romanticism to the design. Prices range from $140 to $520. A glance from Lisa Folawiyo...
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21 May

Farfetch Shares Spike as Company Returns to GMV Growth

by Beauty Tips
Fashion, Featured
Farfetch Shares Spike as Company Returns to GMV Growth
Farfetch is beginning to get back into growth mode — and the great graces of Wall Street.  Shares of Farfetch shot up 16.8 percent to $5.07 in after-hours trading on Thursday after the corporate reported first-quarter results that showed gross merchandise volume had inched up 0.1 percent to $931.7 million. Revenues for the quarter increased 8 percent to $556.4 million. The stock continues to be well off of Farfetch’s 52-week high of $12.89, however the jump back gives the corporate some welcome momentum.  The primary-quarter performance marked a major turn for Farfetch, which saw GMV drop 12 percent within the fourth quarter, when China was hindered by COVID-19 lockdowns and the comparisons were hurt by the closure of the corporate’s Russia business.  Now José...
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21 Nov

Farfetch CEO José Neves on Following His Luxury North Star

by Beautifaire101
Beauty, Featured
Farfetch CEO José Neves on Following His Luxury North Star
Farfetch has hit something of a soft patch — and is on the outs with investors, again — but José Neves said the platform continues to be very much within the sweet spot of luxury growth and technology. “We doubled this business within the last three years, so we grew greater than some other online luxury company or etailer,” Neves, who's founder, chairman and chief executive officer, told WWD in an interview. “Nobody doubled. Even probably the most successful brands haven’t doubled.”  But Wall Street is a really what-have-you-done-for-me-lately crowd and shares of Farfetch fell 11.3 percent to $8.11 on Friday after the corporate’s third-quarter gross merchandise volume slipped 4.9 percent to $967.4 million (a 4.2 percent increase in constant currencies) as...
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