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 become a founding member of a new blockchain initiative backed by the likes of Facebook, Uber and Mastercard that will “help to enable frictionless e-commerce” and revolutionise the luxury industry.
The BFC launched the organisation’s China Partnerships Strategy in Shanghai this week with Ambassadorial President David Beckham and a number of BFC luminaries on hand to guarantee maximum publicity for the initiative.
Farfetch will complete by the end of this week its much-anticipated initial public offering (IPO) on the New York Stock Exchange with a valuation of up to $4.8 billion if investors pile in to buy its shares.
We caught up with Phair this weekend in London to discuss her plans for the BFC; her take on the future of fashion; how Brexit might impact London designers and British brands; and the BFC’s new plans with Google.
Rarely has any fashion week felt like its success was riding on one brand. Yet that’s very much the mood entering the next edition of London Fashion Week, when all eyes will be on Riccardo Tisci's debut at Burberry.
News from the BFC is coming thick and fast at the moment. Just a day after naming Farfetch exec Stephanie Phair as its new Chair, the group has unveiled David Beckham in the brand new role of Ambassadorial President.
Farfetch has been a major retail disruptor in its relatively short history and now the company is setting out to find the next wave of tech firms with a start-up incubator that’s also being supported by Burberry.
The exchange of executives between luxury’s biggest online names continues with news that Paul Brennan is the new chief operating officer of Browns, the London luxury retailer that is now part of the Farfetch group.