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UK’s Luxury apparel retailer Farfetch to go public

Farfetch the British company, ranked 24 in the Internet Retailer 2018 Online Marketplaces database, has filed papers for initial public offering. According to filing, the company’s gross merchandise value, or the cumulative price of goods sold through the online marketplace, hit $909.8 million in 2017, a 55.3 per cent rise over the $585.8 million GMV of 2016. That surpasses the median growth of 47.3 per cent for all online apparel marketplaces in Internet Retailer’s estimate.

Farfetch’s total revenue generated through online transactions rose 63.8 per cent in 2017 to $296.4 million, but it has yet to generate a profit. Beyond sales, the marketplace notes that active customers—those that made a purchase on the marketplace in the last 12 months—grew 43.6 per cent to more than 935,000 from 652,000. The filing says 980 luxury sellers offer goods through the marketplace, with more than 5.7 million items available across 3,200 brands.

Farfetch ranked No. 2 in terms of gross merchandise value in the apparel marketplace category of Internet Retailer’s marketplace database, behind Wish. In addition to its online marketplace, the company also owns bricks-and-mortar luxury goods boutique Browns.

 

 
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