×
207
Fashion Jobs
NAGA LIMITED
Manager - Production
Permanent · Dindigul
UBRIGHT INTERNATIONAL CO. LTD
Senior Sales Manager 20+ Lakh p.a
Permanent · Pune
UBRIGHT INTERNATIONAL CO. LTD
Senior Sales Manager 20+ Lakh p.a
Permanent · Pune
JIO
jc Home Lead - Coimbatore & Tiruppur - Sales Manager
Permanent · Tiruppur
ERIS LIFESCIENCES LIMITED
Area Business Manager (Generics)
Permanent · Ahmedabad
DIGIKREDIT FINANCE
Requirement For Sales Manager :: Ahmedabad
Permanent · Ahmedabad
KHOSLA MACHINES PVT. LTD.
Sales Manager-North
Permanent · Sahibzada Ajit Singh Nagar
TRACKON COURIER
Area Sales Manager
Permanent · Vapi
AVANTOR
Area Sales Manager || Patna/Ranchi
Permanent · Ranchi
BDO INDIA LLP
Cnc Manager Production Manager Minimum 14 Yrs to 18 Yrs
Permanent · Chennai
KENT RO SYSTEMS
Corporate Sales Manager
Permanent · Chennai
AS
Opening For Production Manager in Leading Sweets Mfg Company
Permanent · Thane
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager - Ahmedabad
Permanent · Ahmedabad
SRL DIAGNOSTICS
Territory Development Manager
Permanent · Prayagraj
NATURELAND ORGANIC FOODS PRIVATE LIMITED
Area Sales Manager (Maharashtra)
Permanent · Mumbai
NATURELAND ORGANIC FOODS PRIVATE LIMITED
Area Sales Manager (Madhya Pradesh)
Permanent · Indore
GRAND CHEMICAL WORKS
Area Sales Manager- Jaipur & Lucknow
Permanent · Lucknow
KISHOR EXPORTS
Qam - Quality Assurance Manager For Garment Exports Company
Permanent · Ranchi
MARC LABORATORIES LTD.
Field Sales Officer/Area Business Manager / Regional Business Manager
Permanent · Varanasi
JAYPEE BROTHERS MEDICAL PUBLISHERS PVT LTD.
Area Sales Manager
Permanent · Prayagraj
RUDRAKSHA CERAMICS PRIVATE LIMITED
Area Sales Manager
Permanent · Pune
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
By
Reuters
Published
Nov 7, 2016
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Farfetch CEO says IPO on the horizon within 2-3 years

By
Reuters
Published
Nov 7, 2016

Online luxury retailer Farfetch, valued at around $1.5 billion in a fund-raising this year, sees a flotation on the cards in two to three years once a phase of high investment is over, its CEO told Reuters.

Farfetch is a marketplace website that puts consumers in touch with trendy shops around the world that sell major labels and also enhances access to smaller fashion brands.


farfetch



The site combines more than 500 boutiques, including L'Eclaireur in Paris, Maxfield in Los Angeles and Fivestory in New York. It launched in 2008 with a few boutiques such as Maria Luisa, which is known for nurturing younger designers.

In May, Farfetch raised $110 million from existing and new investors, including France's Eurazeo, Singapore sovereign wealth fund Temasek and China's IDG Capital.

When asked about the prospect of an IPO, Chief Executive and founder Jose Neves said Farfetch investors had it in mind as an objective but had not decided yet whether it would take place in London, New York or Hong Kong.

"We could start considering it in two to three years but not now as we are still in an intense investment phase," Neves told Reuters in an interview on the fringes of the Vogue Fashion Festival in Paris at the weekend.

"It will be the next major financial milestone for the company."

Neves said Farfetch was not planning on floating as early as the end of next year, as Bloomberg reported on Friday.

Neves, who is Portuguese, said the company, with 1,200 staff and 12 offices worldwide, was still lossmaking but "firmly on track to become profitable" in the medium term.

He did not give any details on the size of investment which will go towards opening new offices and boosting technology.

The value of transactions is set to reach more than $800 million this year, up from over $500 million in 2015. Farfetch takes a percentage as a commission but does not disclose the exact level.

Farfetch sells items from more than 1,500 designers, many of them tiny labels, which it estimates is twice the number carried by bigger online rivals such as Neiman Marcus or Net-a-Poter. An advantage of its business model is that it does not carry any stock.

It competes also against smaller rivals such as Miinto in Scandinavia and Shoptiques in the United States.

Revenue growth in the past few years has been around 60 percent, Neves said. "We have seen growth accelerating in the third quarter and in the fourth and do not expect this acceleration to stop."

His comments echoed stronger-than-expected results by big luxury groups for the third quarter, which analysts said augured well for the end of the year.

 

© Thomson Reuters 2022 All rights reserved.