Tuesday , July 27 2021

Farfetch's revenues up



Because Farfetch is open to the public, it will receive more frequent reports on its financial progress, and the first came to third quarter results this week. These show that revenues continue to grow above the market rate, though profitability is still far away.

Photo courtesy of Farfetch

The company announced that its gross product volume (with the abbreviation GMV in English) grew by 53% in the quarter. Ignoring GMV, the benefits of the respective brands and retailers include, in addition to those allocated for their own safes, in the third quarter, Farfetch & # 39; s profits increased by 52%, "revenues from platform services" increased by 61%. On the other hand, the number of active customers increased by 42% and the number of orders increased by 55%.

Something that clearly demonstrates that consumers are demanding and increasingly attractive to retailers and brands. In fact, it has expanded its relationship with brands and boutiques throughout the quarter, and the market place offers luxury products from more than 1000 suppliers in 48 countries.

And we cannot ignore the initial public offering, which was "capitalized with $ 1 billion in cash and cash-like assets" at the end of the quarter.

The company expects the luxury fashion industry to reach $ 100 billion (approximately 88 billion euros) in online sales growth over the next decade and wants to be at the forefront of this growth.

The three months to September 30th pushed him in this direction, and Farfetch & # 39; s founder, CEO & water & Associate Chairman José Neves, over the course of the time, underlined the company's onu over-growth 30.

The platform's GMV announced that yaklaşık the luxury online market grew by almost twice as fast in the third quarter Platform. As we continue to use our unique position to be a leader in our category in the luxury sector. "

numbers

Now let's see the numbers. GMV increased from $ 204.6 million to $ 309.9 million a year. The platform's GMV reached $ 305.8 million, previously $ 200.2 million, and revenue came from 86. 9 million to 132.1 million dollars.

However, the company continued to record losses. Although the adjusted Ebitda margin remained stable at 29.3%, the adjusted EBITDA was $ 32.3 million. In the same period, net losses increased to $ 77.2 million compared to only 28.1 million last year.

Financial director Elliot Jordan was ver satisfied yap with all this and said ği growth with attractive economic units and improved operating efficiency allows us to invest more to continue to gain market share in the future. Finansal ".

And leaving the losses aside, the company cannot be considered a good future in the future. The investors who came to the last public offering strongly believe in this issue.

Farfetch

The company said that in the third quarter, Farfetch Marketplace continued to increase its online personal luxury market share, and three geographic regions (America, EMEA and APAC) recorded the best quarterly terms for GMV.

He has also signed new brands such as Moschino, Victoria Beckham and Tory Burch, and has expanded his store network to include partners in Russia and Estonia. In addition to being a partner with Dover Street Market, he added Harvey Nichols, the British store as the first member of this category in the Marketplace.

The company also strengthened its technology with a new visual search feature and launched Roberto Cavalli and Neil Barrett on the white label platform. He also agreed to purchase CuriosityChina, a digital technology company that will provide a range of services to help expand brands in China through the web, application, WeChat Stores and Mini Programs.

We already know what the long-term goals are, but what does it all mean in the near future? In the fourth quarter of the important Christmas campaign, the GMV Platform is expected to be in the range of $ 435 to $ 445 million over the company's previous estimates.

And in this sense, Farfetch has lower prices on price scale than other retail electronics stores, such as Asos and Boohoo, and there are income expectations that physical store retailers can only imagine. The big difference here is, of course, the company's unique operating model. adds Instead of associating with each other, it benefits the physical stores it is associated with.

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