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<title>Farfetch</title>

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Farfetch

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</style><table class="infobox vcard"><caption class="infobox-title fn org">Farfetch Limited</caption><tbody><tr><td colspan="2" class="infobox-image"></td></tr><tr><th scope="row" class="infobox-label">Type of business</th><td class="infobox-data category"><a href="Subsidiary" title="Subsidiary">Subsidiary</a></td></tr><tr><th scope="row" class="infobox-label">Founded</th><td class="infobox-data">June 2007 (June 2007)</td></tr><tr><th scope="row" class="infobox-label">Headquarters</th><td class="infobox-data label">London, England</td></tr><tr><th scope="row" class="infobox-label">Owner</th><td class="infobox-data"><style data-mw-deduplicate="TemplateStyles:r1126788409">

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</style><div class="plainlist"><ul><li><a href="Coupang" title="Coupang">Coupang</a> (2024–present)</li></ul></div></td></tr><tr><th scope="row" class="infobox-label"><a href="Organizational_founder" title="Organizational founder">Founder(s)</a></th><td class="infobox-data"><a href="Jos%C3%A9_Neves" title="José Neves">José Neves</a></td></tr><tr><th scope="row" class="infobox-label">Industry</th><td class="infobox-data category"><a href="E-commerce" title="E-commerce">E-commerce</a></td></tr><tr><th scope="row" class="infobox-label"><a href="Product_(business)" title="Product (business)">Products</a></th><td class="infobox-data">Clothes, shoes, accessories, jewellery, designer</td></tr><tr><th scope="row" class="infobox-label">Employees</th><td class="infobox-data">5,441 (2020)</td></tr><tr><th scope="row" class="infobox-label">URL</th><td class="infobox-data url"><a rel="nofollow" class="external text" href="http://farfetch.com">farfetch.com</a></td></tr></tbody></table>

Farfetch is a British <a href="E-commerce" title="E-commerce">e-commerce</a> company focused on <a href="Luxury_goods" title="Luxury goods">luxury</a> clothing and beauty products. It operates as a digital marketplace that sells products from several hundred brands, boutiques and <a href="Department_store" title="Department store">department stores</a> from around the world.<a href="#cite_note-1">[1]</a> In January 2024, the company was acquired by <a href="Coupang" title="Coupang">Coupang</a>.<a href="#cite_note-acquisition-2">[2]</a>

<div class="mw-heading mw-heading2"><h2 id="History">History</h2></div>

Farfetch was founded in June 2007 by Portuguese businessman <a href="Jos%C3%A9_Neves" title="José Neves">José Neves</a> as a marketplace for high-end fashion.<a href="#cite_note-3">[3]</a> The company was based in London and had a launch team of 5 people.<a href="#cite_note-4">[4]</a> Initially registered as Far-fetch.com Ltd from 2007- 2010, then Farfetch.com Ltd from 2010 - 2013,<a href="#cite_note-5">[5]</a> the company's idea was to connect small offline fashion boutiques with a global customer base using technology.<a href="#cite_note-6">[6]</a>

In 2015, Farfetch announced its acquisition of one of the boutiques in its network, London high end retailer <a href="Browns_(fashion_boutique)" title="Browns (fashion boutique)">Browns</a>.<a href="#cite_note-7">[7]</a> According to Neves, the aim was a closer integration of online and offline shopping in a "seamless experience".<a href="#cite_note-8">[8]</a>

In June 2017, Farfetch acquired fashion e-commerce website <a href="Style.com" title="Style.com">Style.com</a> from <a href="Conde_Nast" class="mw-redirect" title="Conde Nast">Conde Nast</a>,<a href="#cite_note-9">[9]</a> the same month Chinese e-commerce company <a href="JD.com" title="JD.com">JD.com Inc.</a> had bought a stake in Farfetch for $397 million.<a href="#cite_note-10">[10]</a>

In September 2018, Farfetch (FTCH.N) listed on the New York Stock Exchange (NYSE).<a href="#cite_note-11">[11]</a> The IPO raised $885 million after the issue of 33.6 million new shares and early investors sold up to 10.6 million shares.<a href="#cite_note-12">[12]</a> It was reported that Neves will net $1.2 billion from the IPO.<a href="#cite_note-13">[13]</a>

On 24 September 2018, animal rights activist organization <a href="PETA" class="mw-redirect" title="PETA">PETA</a> announced that they had purchased shares that would allow them to attend annual shareholder meetings and stop the company from selling fur products.<a href="#cite_note-14">[14]</a>

In December 2018, Farfetch acquired sneaker reseller, <a href="Stadium_Goods" title="Stadium Goods">Stadium Goods</a>, for $250 million.<a href="#cite_note-15">[15]</a> Three months later, it agreed to merge its Chinese business with <a href="JD.com" title="JD.com">JD.com</a>.<a href="#cite_note-16">[16]</a>

In August 2019, Farfetch acquired <a href="New_Guards_Group" title="New Guards Group">New Guards Group</a>, the parent organisation of <a href="Off-White_(company)" title="Off-White (company)">Off-White</a> designer label for $675million.<a href="#cite_note-17">[17]</a> Immediately following the purchase, Farfetch's shares plunged by over 40 percent.<a href="#cite_note-18">[18]</a>

In November 2020, Farfetch entered into a joint partnership with <a href="Richemont" title="Richemont">Richemont</a> and <a href="Alibaba_Group" title="Alibaba Group">Alibaba</a>.<a href="#cite_note-19">[19]</a> Alibaba and Richemont jointly invested $600 million in Farfetch, taking a combined 25% stake in Farfetch's Chinese ventures.<a href="#cite_note-20">[20]</a>

In October 2021, Farfetch launched its in-house fashion brand, There Was One.<a href="#cite_note-Vogue!-21">[21]</a> In January 2022, the firm acquired <a href="Los_Angeles" title="Los Angeles">Los Angeles</a> based beauty retailer Violet Grey for $55.7 million.<a href="#cite_note-22">[22]</a>

In April 2022, Farfetch announced the acquisition of Wannaby Inc.<a href="#cite_note-23">[23]</a> In August, it reached an agreement to purchase a 47.5% stake in fashion e-commerce <a href="Ynap" class="mw-redirect" title="Ynap">YNAP Group</a> from Swiss luxury conglomerate <a href="Richemont" title="Richemont">Richemont</a>, turning <a href="Net-a-Porter" class="mw-redirect" title="Net-a-Porter">Net-a-Porter</a> into a neutral platform with no controlling shareholder.<a href="#cite_note-24">[24]</a>

In October 2023, CreditRiskMonitor reported that Farfetch was nearing a potential <a href="Chapter_11_bankruptcy" class="mw-redirect" title="Chapter 11 bankruptcy">Chapter 11 bankruptcy</a> filing.<a href="#cite_note-25">[25]</a> Meanwhile, after shutting down their own beauty department, it announced the sale of Violet Grey after less than 2 years of ownership.<a href="#cite_note-26">[26]</a>

In November 2023, it was reported that luxury conglomerate <a href="LVMH" title="LVMH">LVMH</a> was considering purchasing back the license for Off-White, or alternatively buying Farfetch outright.<a href="#cite_note-27">[27]</a> The following month, Farfetch began seeking other offers to purchase the company including one from <a href="Carmen_Busquets" title="Carmen Busquets">Carmen Busquets</a>, a cofounding investor of <a href="Net-a-Porter" class="mw-redirect" title="Net-a-Porter">Net-a-Porter</a>.<a href="#cite_note-28">[28]</a> The deal to purchase YNAP Group from Richemont fell through in December 2023 following the precipitous drop in Farfetch's <a href="Market_capitalization" title="Market capitalization">market capitalization</a> and continued losses.<a href="#cite_note-29">[29]</a>

On 18 December 2023 it was announced the firm would be acquired by South Korean e-commerce giant Coupang in a deal that would give Farfetch access to $500 million of capital.<a href="#cite_note-30">[30]</a><a href="#cite_note-31">[31]</a><a href="#cite_note-32">[32]</a><a href="#cite_note-33">[33]</a> Despite challenges from a group of investors dubbed the 2027 Ad Hoc Group, who held over 50 percent of Farfetch's convertible notes, the purchase was completed on 31 January 2024.<a href="#cite_note-acquisition-2">[2]</a><a href="#cite_note-34">[34]</a>

In February 2024, European luxury conglomerate <a href="Kering" title="Kering">Kering</a> announced they would no longer work directly with Farfetch and were pulling their brands immediately. Going forward, Kering products will only be available on Farfetch via third party boutiques. In a statement to <a href="Women's_Wear_Daily" title="Women's Wear Daily">WWD</a>, Deputy CEO Jean-Marc Duplaix said "Farfetch is not a strategic partner for us."<a href="#cite_note-35">[35]</a>

<div class="mw-heading mw-heading2"><h2 id="Current_operations">Current operations</h2></div>

Farfetch currently operates marketplace websites and mobile apps in English, Spanish, French, Japanese, Chinese, Arabic, German, Dutch, Brazilian Portuguese, Korean, Italian, Danish, Swedish and Russian<a href="#cite_note-36">[36]</a> and ships to customers in almost 190 countries.<a href="#cite_note-37">[37]</a>

<ul><li><a href="Matches_Fashion" title="Matches Fashion">Matches Fashion</a></li>

<li><a href="YOOX_Net-a-Porter_Group" title="YOOX Net-a-Porter Group">YOOX Net-a-Porter Group</a></li>

<li><a href="Mytheresa" title="Mytheresa">Mytheresa</a></li>

<li><a href="SSENSE" title="SSENSE">SSENSE</a></li></ul>

<div class="mw-heading mw-heading2"><h2 id="References">References</h2></div>

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