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FFTCH


Tech Study
The FPS Farfetch Technology and Business Strategy
2021-12-03




A Global Luxury Platform.
FF Brands
The Farfetch Marketplace serves consumers in over 190 countries. US customers account for just 19% of total revenue in 2020, which compares to 22% three years ago. International revenue should continue to grow as FTCH increases penetration in fast-growing foreign markets. China in particular will likely be a major source of growth for FTCH as it is projected to become the largest luxury market by 2025, per Bain & Company estimates, FTCH’s deep investments in this market positions it well for success.
1.6bn Rev. FY20


The Digital Services PLatform
FTCH’s Luxury New Retail (LNR) offerings can power omnichannel sales for luxury sellers. LNR leverages the industry-leading technological capabilities and datasets of Alibaba and FTCH, along with expertise from renowned global luxury groups Richemont and Kering, to provide a full suite of enterprise tools and services for luxury sellers to elevate the consumer shopping experience both online and in-store. The recent Richemont announcement serves as excellent proof point here; Richemont’s Maisons and YOOX NET-A-PORTER are currently in discussions to leverage FTCH’s Platform Solutions and Luxury New Retail technologies, respectively, demonstrating how compelling FTCH’s offering could be to even luxury powerhouses.
200% Growth over 2 years

Digital Platform is FTCH’s primary segment and accounts for ~86% of GMV and ~75% of revenue. This segment generates revenue from online transactions on the Farfetch and Stadium Goods Marketplaces and the respective websites of FTCH’s owned brands. It also includes commissions and fees from third party sellers who use the enterprise tech offerings of Farfetch Platform Solutions (FPS) and Store of the Future.

Richemont deal?


Richemont brands
Richemont brands
Richemont brands
Richemont is considering using FPS’s e-commerce software for its brands and for Yoox Net-a-Porter (YNAP) and Farfetch would make a minority investment in YNAP.


  DFarfetch Platform Solutions | Richemont discussions

Richemont chairman Johann Rupert denied the group was looking to spin off YNAP, but analysts interpreted comments today as a clear sign of intent to reduce the impact of a loss-making business unit on the luxury conglomerate’s balance sheet.

Farfetch’s white label tech offering, Farfetch Platform Solutions (FPS), hasn’t had as much recognition as CEO José Neves might’ve liked. However, this is changing, thanks to last week’s confirmation that Richemont is considering using FPS’s e-commerce software for its brands and for Yoox Net-a-Porter (YNAP), which has for years been positioned as Farfetch’s dominant rival. As part of the potential deal, Richemont’s brands would join the Farfetch marketplace and Farfetch would make a minority investment in YNAP.
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