Farfetch Ltd. is a British-Portuguese technology platform that connects consumers with luxury fashion brands and boutiques around the world. The company was founded in 2007 by José Neves, an entrepreneur with a background in fashion and technology, and is headquartered in London, United Kingdom. Farfetch operates as an e-commerce platform, providing an online marketplace for customers to browse and purchase a wide range of luxury fashion products, including clothing, shoes, bags, and accessories.
Farfetch went public on September 21, 2018, debuting on the New York Stock Exchange under the ticker symbol "FTCH". The initial public offering (IPO) raised $885 million, valuing the company at approximately $5.8 billion. The IPO was one of the largest for a UK-based technology company in recent years.
Farfetch's business model is based on leveraging technology to connect consumers with a global network of luxury fashion boutiques and brands. The platform offers a range of features to enhance the shopping experience, including virtual try-ons, real-time translation, and personalized recommendations. Farfetch's network of over 1,300 partners includes leading fashion brands such as Gucci, Prada, and Burberry, as well as smaller independent boutiques.
In addition to its core e-commerce platform, Farfetch has expanded its offerings through a series of strategic acquisitions and partnerships. In 2015, the company acquired CuriosityChina, a digital marketing platform that helps luxury brands engage with Chinese consumers. In 2018, Farfetch announced a partnership with Chanel, enabling the brand to sell its products on the platform for the first time. In 2020, Farfetch acquired New Guards Group, the parent company of streetwear brand Off-White, as part of its strategy to expand its presence in the fast-growing luxury streetwear market.
Farfetch has grown rapidly since its founding, with revenues increasing from $174 million in 2016 to $1.6 billion in 2020. The company operates in over 190 countries and has a workforce of approximately 5,000 employees.