How it started
History
Farfetch was founded in June 2007 as a marketplace for luxury fashion. The company was based in London and had a launch team of 5 people. From the beginning, the company's idea was to connect small offline fashion boutiques with a global customer base using technology.
In 2015, Farfetch announced the acquisition of Browns Fashion, founded by the late retail pioneer Joan Burstein. The acquisition aimed to develop and test new retail and omni-channel strategies and a closer integration of online and offline shopping in a "seamless experience".
In September 2018, Farfetch (FTCH.N) listed on the New York Stock Exchange (NYSE), and sales jumped 53% on the first day of trading. The IPO raised $885 million after the issue of 33.6 million new shares and early investors sold up to 10.6 million shares. Following a period of rapid expansion and growth, the business face financial challenges in late 2023 leading to its delisting.
In December 2018, Farfetch acquired Stadium Goods, the premium marketplace for authentic sneakers, streetwear, and collectibles. The $250 million acquisition allowed Farfetch to expand its offering and Stadium Goods would benefit Farfetch's world-class logistics and technology.
Two years after, in 2021, it announced the acquisition of Luxclusif, a resale platform, to strengthen its proposition in pre-owned offering and resale services such as Farfetch Second Life.
From Wikipedia’s article on Farfetch, shared under CC BY-SA 4.0.3