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Farfetch
14 August 2020
Farfetch collects half a million new customers
Dinheiro Vivo
Luis Teixeira, COO of Farfetch, classifies the quarterly results as "above expected", taking into account the adverse context of luxury fashion.

The British-Portuguese Farfetch, a platform of the luxury fashion trade, this Thursday presented the results for the second quarter, after the closing of the session of Wall Street. Until June, the company had revenues of 365 million dollars (309 million euros), 74% more than the same period in 2019, leveraged by the number of new customers.

"It is an adverse context for the luxury industry, in which there is a general contraction in consumption, something that is evident in the consultants' studies and also in the results of the large luxury groups. When we delivered a 34% growth in the digital platform, it shows that, in fact, we maintained an accelerated growth and gained market share. Better than this would be impossible", summarizes the person in charge.

Farfetch's COO believes that in a "very positive next quarter", reinforcing the expected "acceleration of the digital platform", with growth values ​​in the order of "40 to 45%, maintaining the margin levels we have had". The company continues "on the way to the break-even [moment when the company reaches profitability] of EBITDA, which we set out to do in 2021".

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