Luxury goods deign to move online.
Gucci, Fendi and Stella McCartney are just some of the big names in the Farfetch Ltd. lineup, a sign that luxury labels are making the shift online to follow luxury shoppers, analysts say.
Farfetch is an online luxury fashion retail platform that sells products from over 700 boutiques and global brands. Headquartered in London, with offices in eleven cities and 3,000 staff, the e-commerce company operates local language websites and mobile apps.Farfetch reported narrower-than-expected losses for the third quarter, and revenue that was in line with FactSet expectations.
More than 100 new luxury brands have jumped on the Farfetch platform, including Stella McCartney and Brunello Cucinelli, said José Neves, Farfetch’s chief executive, on the earnings call. And at the end of the quarter, the site’s top 10 brands, including Gucci, Prada and Fendi, had doubled their stock on the site versus a year ago.
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