Jose Neves, Founder CEO and Co Chairman at Farfetch 1

Revenue at Farfetch hit £151 million in 2016.
Gross merchandise value rose 81% to £547 million last year.
Losses up 18% to £34 million.

LONDON — Online luxury fashion retailer Farfetch sold over half a billion pounds worth of good across its platform last year, new accounts show.

Gross merchandise value, which measures the value of all goods sold, rose by 81% to £547.9 million in 2016, according to accounts filed with Companies House. Revenue rose by 74% to £151.3 million, while losses rose by 18% to £34 million.

London-headquartered Farfetch is an e-commerce platform for luxury boutiques from around the world. The global elite can virtually shop at over 700 shops in locations such as London, New York, and Paris.

£12 million of Farfetch’s revenue came from the UK, £40 million came from Europe, and the remaining £98 million came from the rest of the world. Farfetch said in accounts that it now gets 21 million visits per month to its website.

Employee numbers rose from 189 in 2015 to 233 last year. The highest-paid director, who is not named, made £272,044 last year.

Farfetch acquired Style.com from Vogue publisher Conde Naste in June of this year and accounts show that Farfetch made a share …read more


Source:: Businessinsider – Life

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