Farfetch said Thursday it's buying one of the most dynamic groups of fashion forward designer brands as it continues to expand fast. It also had news on its exec team and reported wider losses as it invests in growth.
Farfetch has made several changes to its senior management team. Kshitij Kumar has been appointed as the company’s first chief data officer, whilst Holli Rogers is to become its first chief brand officer.
Farfetch's first set of results since its IPO showed sales soaring and even though the firm is still loss-making, its growth trajectory is continuing into 2019 as the global appetite for luxury fashion remains strong.
Two of the biggest names in luxury retail are now working together with Farfetch saying on Tuesday that it’s linking up with Harrods and will be the luxury department store’s global commerce platform provider.
The close relationship between luxury e-tailer Farfetch and Browns, the physical store that it acquired back in 2015, has become even closer with Browns’ CEO Holli Rogers having taken on a new role at the parent firm.
Fashion brands need to put their foot down and take action to prevent “a race to the bottom” in terms of discounts that threaten whole fashion retail eco-system, Farfetch CEO José Neves told FashionNetwork.com.